https://www.taxtmi.com/caselaws?id=339030 The Tribunal upheld the CIT(A)'s decision on various issues, including the addition under Section 145A for not including taxes in the valuation of closing stock, allowing an additional deduction under Section 80IB, and deleting the addition for un-reconciled credit differences. However, the Tribunal reversed the CIT(A)'s decision on late payment of employees' contribution to the Provident Fund, following the jurisdictional High Court's ruling. The Tribunal dismissed the assessee's Cross Objections on outstanding creditors, unpaid professional tax, and unpaid sales tax liability as not pressed. Overall, the Tribunal partly allowed the Revenue's appeal and the assessee's Cross Objection, emphasizing the importance of accounting consistency and correct income assessment. en-us Mon, 13 Feb 2017 00:00:00 +0530 Fri, 17 Feb 2017 08:42:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339030 The Tribunal upheld the CIT(A)'s decision on various issues, including the addition under Section 145A for not including taxes in the valuation of closing stock, allowing an additional deduction under Section 80IB, and deleting the addition for un-reconciled credit differences. However, the Tribunal reversed the CIT(A)'s decision on late payment of employees' contribution to the Provident Fund, following the jurisdictional High Court's ruling. The Tribunal dismissed the assessee's Cross Objections on outstanding creditors, unpaid professional tax, and unpaid sales tax liability as not pressed. Overall, the Tribunal partly allowed the Revenue's appeal and the assessee's Cross Objection, emphasizing the importance of accounting consistency and correct income assessment. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339030