https://www.taxtmi.com/caselaws?id=210570 The Revenue's appeals for the assessment years 2004-2005 and 2005-2006, along with the assessee's challenge for the former, were dismissed by the ITAT, Ahmedabad. The additions made by the Revenue on account of low GP rates and unexplained investments in sales outside the books of accounts were deemed unjustified, as the ITAT found the assessee's explanations reasonable and the Revenue's claims lacking sufficient evidence. Additionally, the confirmation of an addition under section 37(1) for the A.Y. 2004-2005 was upheld, as the assessee did not press the grounds challenging it. en-us Thu, 05 Jan 2012 00:00:00 +0530 Wed, 15 Feb 2012 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210570 The Revenue's appeals for the assessment years 2004-2005 and 2005-2006, along with the assessee's challenge for the former, were dismissed by the ITAT, Ahmedabad. The additions made by the Revenue on account of low GP rates and unexplained investments in sales outside the books of accounts were deemed unjustified, as the ITAT found the assessee's explanations reasonable and the Revenue's claims lacking sufficient evidence. Additionally, the confirmation of an addition under section 37(1) for the A.Y. 2004-2005 was upheld, as the assessee did not press the grounds challenging it. Case-Laws Income Tax Thu, 05 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210570