https://www.taxtmi.com/caselaws?id=241956 The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection. The deletion of the addition on account of low gross profit was upheld, as the CIT(A)'s findings were based on reasonable explanations provided by the assessee and the lack of substantial evidence from the AO to reject the books of accounts. The disallowance under Section 40(a)(ia) was also upheld, as the assessee failed to deduct TDS on freight charges, and the provisions of the Act were correctly invoked by the AO and sustained by the CIT(A). en-us Thu, 19 Dec 2013 00:00:00 +0530 Sat, 04 Jan 2014 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241956 The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection. The deletion of the addition on account of low gross profit was upheld, as the CIT(A)'s findings were based on reasonable explanations provided by the assessee and the lack of substantial evidence from the AO to reject the books of accounts. The disallowance under Section 40(a)(ia) was also upheld, as the assessee failed to deduct TDS on freight charges, and the provisions of the Act were correctly invoked by the AO and sustained by the CIT(A). Case-Laws Income Tax Thu, 19 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241956