https://www.taxtmi.com/caselaws?id=63754 The Tribunal dismissed both the assessee's and Revenue's appeals, upholding the reopening of assessment under section 143(2)(b) of the IT Act and confirming adjustments to sales estimation and gross profit rate. The addition of income from waste material sales and cash credit with interest paid was upheld due to lack of proper records and genuineness concerns. Deletions of unexplained cash credits were supported based on explanations provided, with the Tribunal affirming the CIT(A)'s decisions on all issues raised in the appeals. en-us Tue, 24 May 1994 00:00:00 +0530 Tue, 01 Feb 2011 16:35:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63754 The Tribunal dismissed both the assessee's and Revenue's appeals, upholding the reopening of assessment under section 143(2)(b) of the IT Act and confirming adjustments to sales estimation and gross profit rate. The addition of income from waste material sales and cash credit with interest paid was upheld due to lack of proper records and genuineness concerns. Deletions of unexplained cash credits were supported based on explanations provided, with the Tribunal affirming the CIT(A)'s decisions on all issues raised in the appeals. Case-Laws Income Tax Tue, 24 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63754