https://www.taxtmi.com/caselaws?id=249339 The Tribunal dismissed the Revenue's appeal, upholding the decisions of the First Appellate Authority on the addition of purchases made outside the books, estimation of closing stock based on gross profit rate, and adhoc disallowance of expenses. The Tribunal found errors in the Assessing Officer's methods, emphasizing that additions and estimations cannot be made without rejecting the books of accounts. The Tribunal cited precedents and factual findings to support its decision, ultimately ruling in favor of the assessee and dismissing the Revenue's appeal. en-us Fri, 13 Jun 2014 00:00:00 +0530 Thu, 10 Jul 2014 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249339 The Tribunal dismissed the Revenue's appeal, upholding the decisions of the First Appellate Authority on the addition of purchases made outside the books, estimation of closing stock based on gross profit rate, and adhoc disallowance of expenses. The Tribunal found errors in the Assessing Officer's methods, emphasizing that additions and estimations cannot be made without rejecting the books of accounts. The Tribunal cited precedents and factual findings to support its decision, ultimately ruling in favor of the assessee and dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 13 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249339