https://www.taxtmi.com/caselaws?id=257989 The tribunal allowed the assessee's appeals and dismissed the revenue's appeals, directing the deletion of additions made on account of the difference in gross profit and the peak credit balance in bank accounts for assessment years 2009-10 and 2010-11. The tribunal found the Assessing Officer's estimation of gross profit on almonds unjustified, noting the lack of evidence disproving the assessee's contentions about the nature of almond sales. Additionally, the rejection of book results was deemed baseless, and the assessment of peak credit balance as income was overturned. en-us Fri, 13 Mar 2015 00:00:00 +0530 Sat, 28 Mar 2015 07:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257989 The tribunal allowed the assessee's appeals and dismissed the revenue's appeals, directing the deletion of additions made on account of the difference in gross profit and the peak credit balance in bank accounts for assessment years 2009-10 and 2010-11. The tribunal found the Assessing Officer's estimation of gross profit on almonds unjustified, noting the lack of evidence disproving the assessee's contentions about the nature of almond sales. Additionally, the rejection of book results was deemed baseless, and the assessment of peak credit balance as income was overturned. Case-Laws Income Tax Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257989