https://www.taxtmi.com/caselaws?id=206899 The Tribunal allowed the assessee's quantum appeal in part, directing the deletion of the addition made due to a low gross profit ratio and disallowance of brokerage expenditure. The rejection of depreciation claim and penalty imposition were also overturned, emphasizing the lack of deliberate concealment or false explanations. The Tribunal highlighted the significance of considering genuine circumstances and evidence, particularly in cases involving natural disasters and estimation-based adjustments. en-us Fri, 12 Feb 2010 00:00:00 +0530 Thu, 30 May 2013 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206899 The Tribunal allowed the assessee's quantum appeal in part, directing the deletion of the addition made due to a low gross profit ratio and disallowance of brokerage expenditure. The rejection of depreciation claim and penalty imposition were also overturned, emphasizing the lack of deliberate concealment or false explanations. The Tribunal highlighted the significance of considering genuine circumstances and evidence, particularly in cases involving natural disasters and estimation-based adjustments. Case-Laws Income Tax Fri, 12 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206899