https://www.taxtmi.com/caselaws?id=67621 The ITAT directed the AO to delete the trading addition of Rs. 6,14,696, finding the rejection of accounts unjustified due to maintained quantitative details. It upheld the cash credit addition for one individual due to lack of confirmation but deleted others due to unverified affidavits. The Tribunal reduced the disallowance of telephone expenses to Rs. 1,500, while upholding vehicle expenses and depreciation disallowances. The President, as Third Member, concurred with the Accountant Member, supporting the deletion of the trading addition. en-us Wed, 15 Sep 2004 00:00:00 +0530 Mon, 01 Jul 2024 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67621 The ITAT directed the AO to delete the trading addition of Rs. 6,14,696, finding the rejection of accounts unjustified due to maintained quantitative details. It upheld the cash credit addition for one individual due to lack of confirmation but deleted others due to unverified affidavits. The Tribunal reduced the disallowance of telephone expenses to Rs. 1,500, while upholding vehicle expenses and depreciation disallowances. The President, as Third Member, concurred with the Accountant Member, supporting the deletion of the trading addition. Case-Laws Income Tax Wed, 15 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67621