https://www.taxtmi.com/caselaws?id=217171 The ITAT dismissed the appeal filed by the assessee, upholding the decisions on all three issues. The additions of Rs.18,000 in the name of Shri Vipin Kumar and Rs.1,25,000 in the books of M/s. Vivek Enterprises were justified under section 68 of the Income Tax Act due to lack of proof of identity and creditworthiness. The adjustment of gross profit rates in the units of M/s. Vivek Enterprises and S.G. Enterprises was deemed reasonable by the ITAT, affirming the CIT(A)'s decision. en-us Fri, 13 Jul 2012 00:00:00 +0530 Fri, 07 Sep 2012 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217171 The ITAT dismissed the appeal filed by the assessee, upholding the decisions on all three issues. The additions of Rs.18,000 in the name of Shri Vipin Kumar and Rs.1,25,000 in the books of M/s. Vivek Enterprises were justified under section 68 of the Income Tax Act due to lack of proof of identity and creditworthiness. The adjustment of gross profit rates in the units of M/s. Vivek Enterprises and S.G. Enterprises was deemed reasonable by the ITAT, affirming the CIT(A)'s decision. Case-Laws Income Tax Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217171