https://www.taxtmi.com/caselaws?id=269685 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The rejection of books of account under Section 145(3) was deemed invalid, excess labour expenses disallowance was deleted for lack of evidence, and the addition on account of suppressed yield was overturned due to incorrect assumptions. The Tribunal highlighted the significance of maintaining proper records and recognized the variability in business practices within the diamond industry. en-us Mon, 30 Nov 2015 00:00:00 +0530 Thu, 17 Dec 2015 23:53:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269685 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The rejection of books of account under Section 145(3) was deemed invalid, excess labour expenses disallowance was deleted for lack of evidence, and the addition on account of suppressed yield was overturned due to incorrect assumptions. The Tribunal highlighted the significance of maintaining proper records and recognized the variability in business practices within the diamond industry. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269685