https://www.taxtmi.com/caselaws?id=68218 The Tribunal dismissed the Revenue's appeals and allowed the cross-objections of the assessees, upholding the CIT(A)'s decisions in both cases. In the first case, the deletion of an addition for excess stock was supported due to correct valuation adjustments, and in the second case, the addition on account of bogus purchases was deleted as the AO failed to prove the purchases were bogus, considering the assessee's genuine transactions and lack of motive for such actions. en-us Tue, 29 Jun 2004 00:00:00 +0530 Thu, 17 Mar 2011 17:07:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68218 The Tribunal dismissed the Revenue's appeals and allowed the cross-objections of the assessees, upholding the CIT(A)'s decisions in both cases. In the first case, the deletion of an addition for excess stock was supported due to correct valuation adjustments, and in the second case, the addition on account of bogus purchases was deleted as the AO failed to prove the purchases were bogus, considering the assessee's genuine transactions and lack of motive for such actions. Case-Laws Income Tax Tue, 29 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68218