https://www.taxtmi.com/caselaws?id=260723 The High Court of Bombay at Goa condoned the delay in filing the appeal by the Assessee against the CIT(A) order for A.Y 2006-07, directing the Tribunal to hear the appeal on merits. The Tribunal allowed additions under Sec. 43B for unpaid statutory liabilities, as Sec. 43B's wider scope prevailed over Sec. 44AF. However, the addition for sundry creditors under Sec. 44AF was deemed impermissible, as books of accounts are not considered for profit computation under Sec. 44AF. The Tribunal dismissed the Assessee's argument to consider the loss per books of accounts, upholding the assessment under Sec. 44AF. The appeal was partly allowed, with the deletion of the addition for sundry creditors. en-us Mon, 15 Jun 2015 00:00:00 +0530 Mon, 22 Jun 2015 06:26:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260723 The High Court of Bombay at Goa condoned the delay in filing the appeal by the Assessee against the CIT(A) order for A.Y 2006-07, directing the Tribunal to hear the appeal on merits. The Tribunal allowed additions under Sec. 43B for unpaid statutory liabilities, as Sec. 43B's wider scope prevailed over Sec. 44AF. However, the addition for sundry creditors under Sec. 44AF was deemed impermissible, as books of accounts are not considered for profit computation under Sec. 44AF. The Tribunal dismissed the Assessee's argument to consider the loss per books of accounts, upholding the assessment under Sec. 44AF. The appeal was partly allowed, with the deletion of the addition for sundry creditors. Case-Laws Income Tax Mon, 15 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260723