https://www.taxtmi.com/caselaws?id=240274 The Tribunal partially allowed the appeal, setting aside the enhancement of income directed by the CIT under Section 263 of the Income-tax Act, 1961. The Tribunal remanded the matter to the Assessing Officer for a fresh assessment, emphasizing independent examination of manufacturing and trading accounts. The penalty under Section 271(1)(c) was cancelled due to the setting aside of the addition by the Assessing Officer. The decision was pronounced on 26th November, 2013, with ITA No.2079/Del/2011 partly allowed and ITA No.2502/Del/2012 deemed allowed for statistical purposes. en-us Tue, 26 Nov 2013 00:00:00 +0530 Fri, 29 Nov 2013 06:20:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240274 The Tribunal partially allowed the appeal, setting aside the enhancement of income directed by the CIT under Section 263 of the Income-tax Act, 1961. The Tribunal remanded the matter to the Assessing Officer for a fresh assessment, emphasizing independent examination of manufacturing and trading accounts. The penalty under Section 271(1)(c) was cancelled due to the setting aside of the addition by the Assessing Officer. The decision was pronounced on 26th November, 2013, with ITA No.2079/Del/2011 partly allowed and ITA No.2502/Del/2012 deemed allowed for statistical purposes. Case-Laws Income Tax Tue, 26 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240274