https://www.taxtmi.com/caselaws?id=122839 The revenue's appeal was dismissed as the Tribunal found that the reduction of trading addition by CIT(A) was justified due to lack of specific defects in receipts and expenditure. The benefit of telescoping out of confirmed trading addition was granted, and income received as discounts was considered part of business income. The addition on account of investment in immovable property was deleted due to lack of evidence of extra payment. However, the invocation of section 40A(ia) for interest payment without TDS deduction was dismissed. The appeal of the revenue was dismissed, and the appeal of the assessee was partly allowed. en-us Fri, 13 Feb 2009 00:00:00 +0530 Sat, 18 Aug 2012 14:03:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122839 The revenue's appeal was dismissed as the Tribunal found that the reduction of trading addition by CIT(A) was justified due to lack of specific defects in receipts and expenditure. The benefit of telescoping out of confirmed trading addition was granted, and income received as discounts was considered part of business income. The addition on account of investment in immovable property was deleted due to lack of evidence of extra payment. However, the invocation of section 40A(ia) for interest payment without TDS deduction was dismissed. The appeal of the revenue was dismissed, and the appeal of the assessee was partly allowed. Case-Laws Income Tax Fri, 13 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122839