https://www.taxtmi.com/caselaws?id=329428 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the additions made by the Assessing Officer. The Tribunal found that the books of accounts were reliable, expenditures were properly recorded, and the additions based on estimated profits were unjustified. The CIT(A)'s deletion of the additions on turnover, DEPB, discount, Duty drawback, and license fees was supported by evidence and deemed valid. Ultimately, the Tribunal ruled in favor of the assessee, affirming the CIT(A)'s decision. en-us Fri, 06 May 2016 00:00:00 +0530 Fri, 01 Jul 2016 12:44:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329428 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the additions made by the Assessing Officer. The Tribunal found that the books of accounts were reliable, expenditures were properly recorded, and the additions based on estimated profits were unjustified. The CIT(A)'s deletion of the additions on turnover, DEPB, discount, Duty drawback, and license fees was supported by evidence and deemed valid. Ultimately, the Tribunal ruled in favor of the assessee, affirming the CIT(A)'s decision. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329428