https://www.taxtmi.com/caselaws?id=218537 The Tribunal partly allowed the Revenue's appeal, upholding some additions while deleting or reducing others. The admission of additional evidence without compliance with Rule 46A was upheld due to the assessee's sufficient cause and lack of rebuttal from the Assessing Officer. The deletion of the addition on account of the valuation of a building under construction was affirmed, as the Assessing Officer failed to provide reasons for the valuation. The restriction of disallowance on expenses to 25% was deemed reasonable, and the deletion of the addition on account of a fall in Gross Profit Rate was partially upheld, with a reduced amount reinstated. en-us Tue, 31 Jul 2012 00:00:00 +0530 Mon, 19 Nov 2012 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218537 The Tribunal partly allowed the Revenue's appeal, upholding some additions while deleting or reducing others. The admission of additional evidence without compliance with Rule 46A was upheld due to the assessee's sufficient cause and lack of rebuttal from the Assessing Officer. The deletion of the addition on account of the valuation of a building under construction was affirmed, as the Assessing Officer failed to provide reasons for the valuation. The restriction of disallowance on expenses to 25% was deemed reasonable, and the deletion of the addition on account of a fall in Gross Profit Rate was partially upheld, with a reduced amount reinstated. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218537