https://www.taxtmi.com/caselaws?id=245838 The Income Tax Appellate Tribunal (ITAT) partially allowed the appeal filed by the Revenue and the cross-objection filed by the assessee. The ITAT sustained an addition of Rs. 14.78 lakhs, modifying the Commissioner of Income Tax (Appeals) [CIT(A)]'s order, which had upheld an addition of Rs. 8.34 lakhs. The ITAT concluded that while the Assessing Officer's rejection of books was not entirely justified, the low profit declared by the assessee warranted a higher addition than what was sustained by the CIT(A). en-us Fri, 04 Apr 2014 00:00:00 +0530 Wed, 09 Apr 2014 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245838 The Income Tax Appellate Tribunal (ITAT) partially allowed the appeal filed by the Revenue and the cross-objection filed by the assessee. The ITAT sustained an addition of Rs. 14.78 lakhs, modifying the Commissioner of Income Tax (Appeals) [CIT(A)]'s order, which had upheld an addition of Rs. 8.34 lakhs. The ITAT concluded that while the Assessing Officer's rejection of books was not entirely justified, the low profit declared by the assessee warranted a higher addition than what was sustained by the CIT(A). Case-Laws Income Tax Fri, 04 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245838