https://www.taxtmi.com/caselaws?id=338897 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s order, deleting the additions made by the AO. The Tribunal found that the cost inflation index was inappropriately applied to unclaimed advances, and the provisions of section 41(1) were not applicable as the advances were not written back in the books. Additionally, the Tribunal ruled that the AO's addition of commission income lacked specific evidence and was based on presumption. The Tribunal directed the AO to recompute interest under sections 234B and 234C. en-us Mon, 26 Sep 2016 00:00:00 +0530 Tue, 14 Feb 2017 08:48:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338897 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s order, deleting the additions made by the AO. The Tribunal found that the cost inflation index was inappropriately applied to unclaimed advances, and the provisions of section 41(1) were not applicable as the advances were not written back in the books. Additionally, the Tribunal ruled that the AO's addition of commission income lacked specific evidence and was based on presumption. The Tribunal directed the AO to recompute interest under sections 234B and 234C. Case-Laws Income Tax Mon, 26 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338897