https://www.taxtmi.com/caselaws?id=343164 The tribunal partly allowed the appeal, upholding the rejection of books of accounts but providing relief on the estimation of gross profit, disallowance of interest, and depreciation. The addition under Section 41(1) was significantly reduced, showing a balanced approach in addressing discrepancies. The tribunal required the revenue to prove cessation of liability for specific creditors and directed the deletion of disallowances based on the assessee's arguments and relevant case law. en-us Mon, 17 Apr 2017 00:00:00 +0530 Sat, 20 May 2017 09:02:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343164 The tribunal partly allowed the appeal, upholding the rejection of books of accounts but providing relief on the estimation of gross profit, disallowance of interest, and depreciation. The addition under Section 41(1) was significantly reduced, showing a balanced approach in addressing discrepancies. The tribunal required the revenue to prove cessation of liability for specific creditors and directed the deletion of disallowances based on the assessee's arguments and relevant case law. Case-Laws Income Tax Mon, 17 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343164