https://www.taxtmi.com/caselaws?id=261440 The ITAT upheld the CIT(A)'s decision to disallow 10% of cash labor payments but ruled in favor of the assessee regarding the addition on the difference in closing stock valuation. The appeal was partly allowed, emphasizing the importance of accurate bookkeeping practices and placing the burden of proof on the Revenue in tax matters. en-us Fri, 13 Mar 2015 00:00:00 +0530 Mon, 13 Jul 2015 06:26:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261440 The ITAT upheld the CIT(A)'s decision to disallow 10% of cash labor payments but ruled in favor of the assessee regarding the addition on the difference in closing stock valuation. The appeal was partly allowed, emphasizing the importance of accurate bookkeeping practices and placing the burden of proof on the Revenue in tax matters. Case-Laws Income Tax Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261440