https://www.taxtmi.com/caselaws?id=255664 The Revenue's appeal regarding the deletion of an addition on account of low yield of finished products was dismissed by the Appellate Tribunal. The Tribunal upheld the CIT(A)'s decision, emphasizing the lack of concrete evidence to support the addition and noting that the assessee's records were audited with no deficiencies found. Additionally, the disallowance of additional depreciation on plant and machinery was upheld, as the expenses were for maintenance, not acquisition of new machinery as required by law. Both the Revenue's appeal and the assessee's cross-objection were dismissed, affirming the decisions of the CIT(A) on both issues. en-us Fri, 16 Jan 2015 00:00:00 +0530 Fri, 23 Jan 2015 06:32:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255664 The Revenue's appeal regarding the deletion of an addition on account of low yield of finished products was dismissed by the Appellate Tribunal. The Tribunal upheld the CIT(A)'s decision, emphasizing the lack of concrete evidence to support the addition and noting that the assessee's records were audited with no deficiencies found. Additionally, the disallowance of additional depreciation on plant and machinery was upheld, as the expenses were for maintenance, not acquisition of new machinery as required by law. Both the Revenue's appeal and the assessee's cross-objection were dismissed, affirming the decisions of the CIT(A) on both issues. Case-Laws Income Tax Fri, 16 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255664