https://www.taxtmi.com/caselaws?id=261089 The Tribunal upheld the CIT(A)'s decision to reject the AO's addition of estimated profit, disallow discrepancies in sales, and quantitative details. The Tribunal also agreed with the CIT(A) on issues related to profit estimation, royalty payments, carry forward of losses, and unabsorbed depreciation. However, the Tribunal disagreed with the disallowance of VRS expenses and expenses on spares, stores, and tools, deleting these disallowances. Additionally, the Tribunal ruled in favor of the assessee regarding the computation of capital gains and indexation of land, emphasizing the importance of providing sufficient evidence to support disallowances and rejections. en-us Tue, 29 Apr 2014 00:00:00 +0530 Fri, 05 Aug 2022 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261089 The Tribunal upheld the CIT(A)'s decision to reject the AO's addition of estimated profit, disallow discrepancies in sales, and quantitative details. The Tribunal also agreed with the CIT(A) on issues related to profit estimation, royalty payments, carry forward of losses, and unabsorbed depreciation. However, the Tribunal disagreed with the disallowance of VRS expenses and expenses on spares, stores, and tools, deleting these disallowances. Additionally, the Tribunal ruled in favor of the assessee regarding the computation of capital gains and indexation of land, emphasizing the importance of providing sufficient evidence to support disallowances and rejections. Case-Laws Income Tax Tue, 29 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261089