https://www.taxtmi.com/caselaws?id=248935 The Ld. CIT(A) dismissed the revenue's appeal and the assessee's Cross-Objection, upholding the deletion of the Rs.2,01,38,824 addition in trading results by the Assessing Officer. The Ld. CIT(A) found the Assessing Officer's actions lacked proper procedure and natural justice under Section 144, leading to the deletion of the addition. Additionally, discrepancies in accounts with certain supplier parties were not substantial enough to justify rejection of books of account, emphasizing the importance of following proper assessment procedures and natural justice. The Ld. CIT(A) also directed the disallowance of Rs.8,70,117 as prior period expenses based on accounting principles and timing of transactions. en-us Wed, 18 Jun 2014 00:00:00 +0530 Mon, 30 Jun 2014 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248935 The Ld. CIT(A) dismissed the revenue's appeal and the assessee's Cross-Objection, upholding the deletion of the Rs.2,01,38,824 addition in trading results by the Assessing Officer. The Ld. CIT(A) found the Assessing Officer's actions lacked proper procedure and natural justice under Section 144, leading to the deletion of the addition. Additionally, discrepancies in accounts with certain supplier parties were not substantial enough to justify rejection of books of account, emphasizing the importance of following proper assessment procedures and natural justice. The Ld. CIT(A) also directed the disallowance of Rs.8,70,117 as prior period expenses based on accounting principles and timing of transactions. Case-Laws Income Tax Wed, 18 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248935