https://www.taxtmi.com/caselaws?id=191433 The Tribunal upheld the deletion of cash received under section 68 of the Act, citing commercial expediency. The Tribunal also confirmed the deletion of bogus purchases under section 41(1) of the Act, as the assessee provided evidence of genuine transactions. Additionally, the Tribunal reduced the disallowance of labor wages under section 37 of the Act from 20% to 5%, finding the Assessing Officer's estimation unjustified. The Revenue's appeals were dismissed, and the orders of the Ld. CIT(A) were upheld in all aspects. en-us Thu, 25 Oct 2012 00:00:00 +0530 Mon, 03 Apr 2017 18:01:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191433 The Tribunal upheld the deletion of cash received under section 68 of the Act, citing commercial expediency. The Tribunal also confirmed the deletion of bogus purchases under section 41(1) of the Act, as the assessee provided evidence of genuine transactions. Additionally, the Tribunal reduced the disallowance of labor wages under section 37 of the Act from 20% to 5%, finding the Assessing Officer's estimation unjustified. The Revenue's appeals were dismissed, and the orders of the Ld. CIT(A) were upheld in all aspects. Case-Laws Income Tax Thu, 25 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191433