https://www.taxtmi.com/caselaws?id=344313 The Tribunal ruled in favor of the assessee in a case concerning the disclosure and accounting treatment of a trade deposit. The dispute arose when the Assessing Officer added the trade deposit as undisclosed income under Sec.69 or 69A, which the Commissioner of Income Tax (Appeals) later deleted. The Tribunal upheld the deletion, emphasizing that since the deposit was properly recorded in the balance sheet, there was no basis for the addition. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the addition made by the Assessing Officer. en-us Wed, 12 Apr 2017 00:00:00 +0530 Thu, 15 Jun 2017 08:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344313 The Tribunal ruled in favor of the assessee in a case concerning the disclosure and accounting treatment of a trade deposit. The dispute arose when the Assessing Officer added the trade deposit as undisclosed income under Sec.69 or 69A, which the Commissioner of Income Tax (Appeals) later deleted. The Tribunal upheld the deletion, emphasizing that since the deposit was properly recorded in the balance sheet, there was no basis for the addition. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the addition made by the Assessing Officer. Case-Laws Income Tax Wed, 12 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344313