https://www.taxtmi.com/caselaws?id=68492 The ITAT ruled in favor of the assessee, allowing their appeal and dismissing the Revenue's cross-appeal. The Tribunal deleted additions made by the AO under sections 40A(2)(b) and for discrepancies in stock, disallowances related to interest, telephone, and vehicle maintenance expenses, finding no basis for such additions. The Tribunal upheld the CIT(A)'s decision on the Revenue's appeal regarding the deletion of an addition for excess loss in consumption, confirming the absence of discrepancies. en-us Thu, 25 Mar 2004 00:00:00 +0530 Wed, 17 Jul 2024 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68492 The ITAT ruled in favor of the assessee, allowing their appeal and dismissing the Revenue's cross-appeal. The Tribunal deleted additions made by the AO under sections 40A(2)(b) and for discrepancies in stock, disallowances related to interest, telephone, and vehicle maintenance expenses, finding no basis for such additions. The Tribunal upheld the CIT(A)'s decision on the Revenue's appeal regarding the deletion of an addition for excess loss in consumption, confirming the absence of discrepancies. Case-Laws Income Tax Thu, 25 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68492