https://www.taxtmi.com/caselaws?id=71913 The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal. The Tribunal found no justification for rejecting the book results or applying a higher gross profit rate than declared by the assessee. The decision was based on the majority view that the declared sales and cost of goods sold were accepted by the Assessing Officer, and no discrepancies were found in the quantitative details. The Tribunal directed the acceptance of the declared results, upholding the CIT(A)'s decision on disallowance issues related to travelling and vehicle expenses, as no specific reasons were provided for the additions. en-us Fri, 26 Dec 2008 00:00:00 +0530 Wed, 22 Nov 2023 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71913 The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal. The Tribunal found no justification for rejecting the book results or applying a higher gross profit rate than declared by the assessee. The decision was based on the majority view that the declared sales and cost of goods sold were accepted by the Assessing Officer, and no discrepancies were found in the quantitative details. The Tribunal directed the acceptance of the declared results, upholding the CIT(A)'s decision on disallowance issues related to travelling and vehicle expenses, as no specific reasons were provided for the additions. Case-Laws Income Tax Fri, 26 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71913