Additions based merely on perceived general market conditions or notorious practices in trade circles untenable

HIGH COURT OF DELHI Commissioner of Income-tax Versus Discovery Estates (P.) Ltd. IT APPEAL NOS. 1089, 1090 & 1097 OF 2011 FEBRUARY  18, 2013 JUDGMENT R.V. Easwar, J.  These three appeals relating to two different assessees were heard together since common issues are involved and, therefore, a single order is passed for the sake of convenience. 2. The appeals are by the Revenue. ITA Nos.1089/2011 and 1090/2011 relate to the same assessee i.e. Discovery Estates Pvt. Ltd. and ITA No.1097/2011 relates to another company of the same group by name Discovery Holdings Pvt. L...