https://www.taxtmi.com/caselaws?id=218610 The Tribunal partly allowed the revenue's appeal by restricting the addition on account of labour charges to Rs. 1.00 lakh. It confirmed the deletion of the addition on account of revaluation of closing stock of gold and remitted the issue of revaluation of closing stock back to the AO for proper valuation using the weighted average method. Additionally, the Tribunal confirmed the deletion of the addition under Section 40A(3), noting the lack of evidence to support the AO's assumptions. en-us Fri, 27 Jul 2012 00:00:00 +0530 Fri, 09 Nov 2012 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218610 The Tribunal partly allowed the revenue's appeal by restricting the addition on account of labour charges to Rs. 1.00 lakh. It confirmed the deletion of the addition on account of revaluation of closing stock of gold and remitted the issue of revaluation of closing stock back to the AO for proper valuation using the weighted average method. Additionally, the Tribunal confirmed the deletion of the addition under Section 40A(3), noting the lack of evidence to support the AO's assumptions. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218610