https://www.taxtmi.com/caselaws?id=329935 The ITAT upheld the CIT(A)'s decision to dismiss the Revenue's appeal in a case involving undisclosed sales of injectables, ad-hoc cost allocation without nexus, and interest on loans and advances to directors. The Revenue's additions were deemed unjustified as the financial data did not show any flaws, and the AO's actions were considered arbitrary and lacking merit. Consequently, the appeals on all grounds were dismissed. en-us Tue, 05 Jul 2016 00:00:00 +0530 Wed, 13 Jul 2016 13:00:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329935 The ITAT upheld the CIT(A)'s decision to dismiss the Revenue's appeal in a case involving undisclosed sales of injectables, ad-hoc cost allocation without nexus, and interest on loans and advances to directors. The Revenue's additions were deemed unjustified as the financial data did not show any flaws, and the AO's actions were considered arbitrary and lacking merit. Consequently, the appeals on all grounds were dismissed. Case-Laws Income Tax Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329935