https://www.taxtmi.com/caselaws?id=253947 The Tribunal upheld additions on account of unexplained gifts and Gross Profit declared for the assessment years 2000-01, 2002-03, and 2003-04. Additionally, an addition on account of unexplained cash credit was upheld for the assessment year 2003-04. The Tribunal allowed an alternative plea to reduce the addition under section 68 by considering the low Gross Profit. The appeals for the assessment years 2000-01 and 2002-03 were dismissed, while the appeal for 2003-04 was partly allowed, reducing the addition to Rs. 6,85,090/-. en-us Fri, 28 Nov 2014 00:00:00 +0530 Mon, 08 Dec 2014 21:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253947 The Tribunal upheld additions on account of unexplained gifts and Gross Profit declared for the assessment years 2000-01, 2002-03, and 2003-04. Additionally, an addition on account of unexplained cash credit was upheld for the assessment year 2003-04. The Tribunal allowed an alternative plea to reduce the addition under section 68 by considering the low Gross Profit. The appeals for the assessment years 2000-01 and 2002-03 were dismissed, while the appeal for 2003-04 was partly allowed, reducing the addition to Rs. 6,85,090/-. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253947