https://www.taxtmi.com/caselaws?id=71048 The Tribunal allowed the disallowance of loss in the garlic account, as the additional profit was deleted and the trading account was accepted. In the case of M/s Gyandeo Pd. Pannalal, the Tribunal deleted the addition made by the Assessing Officer in wheat and rice accounts, considering the virtually accepted profit. The disallowance of loss in M/s Mishrilal Chunilal was confirmed due to lack of proof for market conditions. The Tribunal reduced the disallowance of shop expenses. Income from other sources in the name of Shri Gyandeo Prasad was not added to total income, as proven identity and capacity existed. The Tribunal directed the Assessing Officer to reconsider interest charges after allowing the assessee an opportunity to be heard. en-us Thu, 05 Mar 1981 00:00:00 +0530 Thu, 21 Apr 2011 11:05:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71048 The Tribunal allowed the disallowance of loss in the garlic account, as the additional profit was deleted and the trading account was accepted. In the case of M/s Gyandeo Pd. Pannalal, the Tribunal deleted the addition made by the Assessing Officer in wheat and rice accounts, considering the virtually accepted profit. The disallowance of loss in M/s Mishrilal Chunilal was confirmed due to lack of proof for market conditions. The Tribunal reduced the disallowance of shop expenses. Income from other sources in the name of Shri Gyandeo Prasad was not added to total income, as proven identity and capacity existed. The Tribunal directed the Assessing Officer to reconsider interest charges after allowing the assessee an opportunity to be heard. Case-Laws Income Tax Thu, 05 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71048