https://www.taxtmi.com/caselaws?id=218642 The Tribunal allowed the assessee's grounds regarding the estimation of income and Gross Profit (G.P.) addition, dismissing the Revenue's corresponding grounds. The excessive consumption of diamond powder was upheld, reversing the telescoping of the addition. The issues of foreign travel and telephone expenses were remanded to the first appellate authority for further examination and decision according to law. Both appeals were partly allowed for statistical purposes. en-us Fri, 13 Jan 2012 00:00:00 +0530 Thu, 22 Nov 2012 07:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218642 The Tribunal allowed the assessee's grounds regarding the estimation of income and Gross Profit (G.P.) addition, dismissing the Revenue's corresponding grounds. The excessive consumption of diamond powder was upheld, reversing the telescoping of the addition. The issues of foreign travel and telephone expenses were remanded to the first appellate authority for further examination and decision according to law. Both appeals were partly allowed for statistical purposes. Case-Laws Income Tax Fri, 13 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218642