Additions cannot be made based on profit assumptions: Punjab & Haryana HC   M/s Shree Digvijaya Woollen Mills Ltd., Amristar Vs Commissioner of Income-Tax (ITR-3- 2010)(O&M) Facts: The taxpayer discarded a copper wire cable of Rs.2,46,553, and this amount was claimed beneath the head Assets Discarded during the year. The assessee from 1955 to 1965…

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