https://www.taxtmi.com/caselaws?id=329228 The Tribunal allowed the appeal in part. The addition of Rs. 4,33,533.00 due to a low net profit rate was deleted as the Assessing Officer's approach was deemed unjustified. The addition of Rs. 19,50,000.00 under Section 69 was limited to the peak balance of Rs. 7,81,459.00. The disallowance of Rs. 2,67,234.00 under "Short & Excess expenses" was remanded for fresh adjudication, as proper examination and verification were deemed necessary. en-us Fri, 10 Jun 2016 00:00:00 +0530 Sat, 25 Jun 2016 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329228 The Tribunal allowed the appeal in part. The addition of Rs. 4,33,533.00 due to a low net profit rate was deleted as the Assessing Officer's approach was deemed unjustified. The addition of Rs. 19,50,000.00 under Section 69 was limited to the peak balance of Rs. 7,81,459.00. The disallowance of Rs. 2,67,234.00 under "Short & Excess expenses" was remanded for fresh adjudication, as proper examination and verification were deemed necessary. Case-Laws Income Tax Fri, 10 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329228