https://www.taxtmi.com/caselaws?id=247539 The ITAT upheld the CIT(A)'s decision to delete the addition of unaccounted income, emphasizing the Revenue's failure to disprove the assessee's claim. The ITAT noted the assessee offered the sale value, not the full investment value, for taxation and that the AO did not investigate the evidence provided. Additionally, the ITAT supported the CIT(A)'s deletion of an addition due to a fall in GP rate, finding the assessee's explanation acceptable and no defects specified by the AO. The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s decisions on both issues. en-us Fri, 25 Apr 2014 00:00:00 +0530 Thu, 15 May 2014 07:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247539 The ITAT upheld the CIT(A)'s decision to delete the addition of unaccounted income, emphasizing the Revenue's failure to disprove the assessee's claim. The ITAT noted the assessee offered the sale value, not the full investment value, for taxation and that the AO did not investigate the evidence provided. Additionally, the ITAT supported the CIT(A)'s deletion of an addition due to a fall in GP rate, finding the assessee's explanation acceptable and no defects specified by the AO. The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s decisions on both issues. Case-Laws Income Tax Fri, 25 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247539