https://www.taxtmi.com/caselaws?id=225139 The Court upheld the Tribunal's decision in favor of the appellant, emphasizing that the Assessing Officer did not reject the books of account and that the additions were made without proper justification. The Court ruled that the appellant followed the mercantile system of accounting and accounted for the amounts correctly, dismissing the Revenue's challenge. Additionally, the Court found no justification for the Assessing Officer's addition towards work-in-progress, supporting the appellant's accounting practices and dismissing the appeal raised by the Revenue on both issues. en-us Mon, 08 Apr 2013 00:00:00 +0530 Fri, 25 Oct 2013 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=225139 The Court upheld the Tribunal's decision in favor of the appellant, emphasizing that the Assessing Officer did not reject the books of account and that the additions were made without proper justification. The Court ruled that the appellant followed the mercantile system of accounting and accounted for the amounts correctly, dismissing the Revenue's challenge. Additionally, the Court found no justification for the Assessing Officer's addition towards work-in-progress, supporting the appellant's accounting practices and dismissing the appeal raised by the Revenue on both issues. Case-Laws Income Tax Mon, 08 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=225139