https://www.taxtmi.com/caselaws?id=177349 The appeal filed by the Revenue was dismissed, and the addition made under section 68 of the Income Tax Act was deleted by the Commissioner of Income Tax (Appeals) and upheld by the Tribunal. The Commissioner found the Assessing Officer's observations regarding cash sales to be untenable, as purchases were confirmed and sales proceeds were recorded in the profit and loss account. Additionally, the admission of additional evidence by the Commissioner without providing an opportunity to the Assessing Officer was deemed appropriate, leading to the dismissal of the Revenue's appeal. en-us Fri, 29 Jun 2012 00:00:00 +0530 Thu, 07 Jan 2016 16:44:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177349 The appeal filed by the Revenue was dismissed, and the addition made under section 68 of the Income Tax Act was deleted by the Commissioner of Income Tax (Appeals) and upheld by the Tribunal. The Commissioner found the Assessing Officer's observations regarding cash sales to be untenable, as purchases were confirmed and sales proceeds were recorded in the profit and loss account. Additionally, the admission of additional evidence by the Commissioner without providing an opportunity to the Assessing Officer was deemed appropriate, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177349