https://www.taxtmi.com/caselaws?id=194762 The Tribunal upheld the CIT(A)'s deletion of trading addition and addition on account of unaccounted underinvoiced purchases. Disallowance under Section 40A(3) was deleted, citing rejection of books of account. The Tribunal supported the legality of invoking Section 148 for reassessment due to unaccounted sales. Telephone expenses disallowance was reduced to Rs. 3,214, and petrol/diesel expenses disallowance was adjusted to Rs. 3,975. The Tribunal partly allowed the Revenue's appeal and the assessee's cross-objection, modifying additions and disallowances accordingly. en-us Wed, 30 Mar 2011 00:00:00 +0530 Mon, 21 Aug 2023 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194762 The Tribunal upheld the CIT(A)'s deletion of trading addition and addition on account of unaccounted underinvoiced purchases. Disallowance under Section 40A(3) was deleted, citing rejection of books of account. The Tribunal supported the legality of invoking Section 148 for reassessment due to unaccounted sales. Telephone expenses disallowance was reduced to Rs. 3,214, and petrol/diesel expenses disallowance was adjusted to Rs. 3,975. The Tribunal partly allowed the Revenue's appeal and the assessee's cross-objection, modifying additions and disallowances accordingly. Case-Laws Income Tax Wed, 30 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194762