https://www.taxtmi.com/caselaws?id=219502 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, remanding certain issues back to the AO for further consideration. The Tribunal upheld the deletion of undisclosed cash credit, scheme loss disallowance, notional interest addition, and valuation of closing stock issues. However, it upheld the addition of monies collected under the monthly gold scheme as income and disallowed the claimed refunds under the gold scheme due to insufficient evidence. The Tribunal also directed the AO to properly investigate the deficit in stock of diamonds issue and provide the assessee with an opportunity to be heard. en-us Fri, 20 Jul 2012 00:00:00 +0530 Mon, 17 Dec 2012 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219502 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, remanding certain issues back to the AO for further consideration. The Tribunal upheld the deletion of undisclosed cash credit, scheme loss disallowance, notional interest addition, and valuation of closing stock issues. However, it upheld the addition of monies collected under the monthly gold scheme as income and disallowed the claimed refunds under the gold scheme due to insufficient evidence. The Tribunal also directed the AO to properly investigate the deficit in stock of diamonds issue and provide the assessee with an opportunity to be heard. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219502