https://www.taxtmi.com/caselaws?id=235037 The Tribunal set aside the CIT(A)'s orders and deleted the addition on account of Gross Profit (GP) ratio for the assessment year 2004-05, as the books of account were not rejected, and transactions were verifiable. Additionally, the Tribunal upheld the deletion of the addition under Section 68 for unexplained balances in the account of sundry creditors for both assessment years, as payments were made in the subsequent year and confirmation letters were not rebutted. The Tribunal allowed the assessee's appeals and dismissed the Revenue's appeals for the assessment years 2004-05 and 2005-06. en-us Tue, 30 Apr 2013 00:00:00 +0530 Tue, 09 Jul 2013 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235037 The Tribunal set aside the CIT(A)'s orders and deleted the addition on account of Gross Profit (GP) ratio for the assessment year 2004-05, as the books of account were not rejected, and transactions were verifiable. Additionally, the Tribunal upheld the deletion of the addition under Section 68 for unexplained balances in the account of sundry creditors for both assessment years, as payments were made in the subsequent year and confirmation letters were not rebutted. The Tribunal allowed the assessee's appeals and dismissed the Revenue's appeals for the assessment years 2004-05 and 2005-06. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235037