https://www.taxtmi.com/caselaws?id=244348 The Tribunal upheld the CIT(A)'s decision to substitute the addition made by the AO due to alleged suppression of yield/sales, dismissing the Revenue's appeal. Additionally, the Tribunal allowed the assessee's appeal regarding the application of Section 145(3) and the arbitrary estimation of gross profit rates, emphasizing the lack of specific defects in the books of account. The Tribunal concluded that the rejection of books and trading additions by the AO were unjustified, ultimately dismissing the Revenue's appeal and favoring the assessee for both assessment years. en-us Thu, 30 Jan 2014 00:00:00 +0530 Mon, 24 Feb 2014 06:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244348 The Tribunal upheld the CIT(A)'s decision to substitute the addition made by the AO due to alleged suppression of yield/sales, dismissing the Revenue's appeal. Additionally, the Tribunal allowed the assessee's appeal regarding the application of Section 145(3) and the arbitrary estimation of gross profit rates, emphasizing the lack of specific defects in the books of account. The Tribunal concluded that the rejection of books and trading additions by the AO were unjustified, ultimately dismissing the Revenue's appeal and favoring the assessee for both assessment years. Case-Laws Income Tax Thu, 30 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244348