https://www.taxtmi.com/caselaws?id=233970 The appeals by both the assessee and the revenue were dismissed by the Tribunal. The assessee's appeal was dismissed for non-prosecution as no one appeared despite notice. The addition on account of undisclosed income from suppression of closing stock was deleted based on the reasoning that the closing stock was already factored into sales calculations. Similarly, the addition of unexplained expenses claimed by the assessee was also deleted as it was linked to undisclosed income. The Tribunal upheld the CIT(A)'s decisions, emphasizing the need for active pursuit of appeals and providing detailed rationale for the deletions. en-us Tue, 14 May 2013 00:00:00 +0530 Thu, 04 Jul 2013 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233970 The appeals by both the assessee and the revenue were dismissed by the Tribunal. The assessee's appeal was dismissed for non-prosecution as no one appeared despite notice. The addition on account of undisclosed income from suppression of closing stock was deleted based on the reasoning that the closing stock was already factored into sales calculations. Similarly, the addition of unexplained expenses claimed by the assessee was also deleted as it was linked to undisclosed income. The Tribunal upheld the CIT(A)'s decisions, emphasizing the need for active pursuit of appeals and providing detailed rationale for the deletions. Case-Laws Income Tax Tue, 14 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233970