https://www.taxtmi.com/caselaws?id=250324 The tribunal upheld the Ld CIT(A)'s decision regarding the addition of unaccounted contract receipts, emphasizing proper accounting by the assessee. However, the tribunal set aside the Ld CIT(A)'s decision on the assessment of unidentified sundry creditors, directing a fresh assessment by the AO due to insufficient proof of genuineness. The disallowance of various expenses was remanded for reevaluation by the assessing officer, with instructions to provide the assessee with a fair opportunity to be heard. The revenue's appeal was partly allowed for statistical purposes, contingent upon reassessment of sundry creditors and related expenses. en-us Fri, 25 Jul 2014 00:00:00 +0530 Sat, 09 Aug 2014 08:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250324 The tribunal upheld the Ld CIT(A)'s decision regarding the addition of unaccounted contract receipts, emphasizing proper accounting by the assessee. However, the tribunal set aside the Ld CIT(A)'s decision on the assessment of unidentified sundry creditors, directing a fresh assessment by the AO due to insufficient proof of genuineness. The disallowance of various expenses was remanded for reevaluation by the assessing officer, with instructions to provide the assessee with a fair opportunity to be heard. The revenue's appeal was partly allowed for statistical purposes, contingent upon reassessment of sundry creditors and related expenses. Case-Laws Income Tax Fri, 25 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250324