https://www.taxtmi.com/caselaws?id=243981 The Tribunal upheld the CIT(A)'s decisions, dismissing the revenue's appeal. The additions for excess cost claimed in sales, proportionate cost of area sold, and interest costs in inventory were deleted. The CIT(A) justified the assessee's accounting methods based on precedents and principles, emphasizing consistency and proper application of standards and provisions. The admission of additional evidences was deemed valid, with the Tribunal emphasizing the importance of accurate cost estimation and adherence to accounting norms. en-us Thu, 30 Jan 2014 00:00:00 +0530 Fri, 14 Feb 2014 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243981 The Tribunal upheld the CIT(A)'s decisions, dismissing the revenue's appeal. The additions for excess cost claimed in sales, proportionate cost of area sold, and interest costs in inventory were deleted. The CIT(A) justified the assessee's accounting methods based on precedents and principles, emphasizing consistency and proper application of standards and provisions. The admission of additional evidences was deemed valid, with the Tribunal emphasizing the importance of accurate cost estimation and adherence to accounting norms. Case-Laws Income Tax Thu, 30 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243981