https://www.taxtmi.com/caselaws?id=71528 ITAT PUNE - AT held that the partnership firm (PFI) is not a benamidar of the assessee-company and deleted the clubbing addition; the department failed to show undisclosed income within Chapter XIV-B. Expenditure on purchase of bardana (gunny bags) is not allowable under section 37 as a residuary deduction was inappropriate; the AO was justified in rejecting the assessee's accounting treatment. The claimed 25% loss of bardana was disallowed for lack of records; the Tribunal found a 10% loss to be reasonable as a working estimate, restored the matter to the AO to re-determine loss value on average cost and directed the assessee to furnish supporting details. en-us Mon, 14 Jul 1997 00:00:00 +0530 Mon, 13 Oct 2025 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71528 ITAT PUNE - AT held that the partnership firm (PFI) is not a benamidar of the assessee-company and deleted the clubbing addition; the department failed to show undisclosed income within Chapter XIV-B. Expenditure on purchase of bardana (gunny bags) is not allowable under section 37 as a residuary deduction was inappropriate; the AO was justified in rejecting the assessee's accounting treatment. The claimed 25% loss of bardana was disallowed for lack of records; the Tribunal found a 10% loss to be reasonable as a working estimate, restored the matter to the AO to re-determine loss value on average cost and directed the assessee to furnish supporting details. Case-Laws Income Tax Mon, 14 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71528