https://www.taxtmi.com/caselaws?id=249995 The Tribunal partly allowed both the Revenue's and the assessee's appeals. It directed the re-computation of disallowances and valuations based on average rates and consistent methodologies. The Tribunal upheld the CIT(A)'s decisions on certain grounds, including allowing labour charges at a reduced rate, adjusting valuation methods for closing stock of polished and rough diamonds, and permitting deduction under Section 80HHC of the IT Act for export realization during the extended period. The Tribunal also affirmed the rejection of books of accounts under Section 144 r.w.s. 145(3) of the IT Act. en-us Mon, 30 Jun 2014 00:00:00 +0530 Wed, 23 Jul 2014 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249995 The Tribunal partly allowed both the Revenue's and the assessee's appeals. It directed the re-computation of disallowances and valuations based on average rates and consistent methodologies. The Tribunal upheld the CIT(A)'s decisions on certain grounds, including allowing labour charges at a reduced rate, adjusting valuation methods for closing stock of polished and rough diamonds, and permitting deduction under Section 80HHC of the IT Act for export realization during the extended period. The Tribunal also affirmed the rejection of books of accounts under Section 144 r.w.s. 145(3) of the IT Act. Case-Laws Income Tax Mon, 30 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249995