https://www.taxtmi.com/caselaws?id=366968 The Tribunal dismissed the Revenue's appeal regarding the addition of personal and unverifiable expenses, upheld the CIT(A)'s decision on disallowance under Section 36(1)(iii) of the Income Tax Act, and directed appropriate valuation of closing stock. The Tribunal allowed the assessee's appeal for the treatment of opening stock for the subsequent assessment year for statistical purposes. Both parties' appeals for the assessment year 2011-12 were dismissed, and the assessee's appeal for 2012-13 was allowed. en-us Thu, 06 Sep 2018 00:00:00 +0530 Thu, 13 Sep 2018 08:22:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366968 The Tribunal dismissed the Revenue's appeal regarding the addition of personal and unverifiable expenses, upheld the CIT(A)'s decision on disallowance under Section 36(1)(iii) of the Income Tax Act, and directed appropriate valuation of closing stock. The Tribunal allowed the assessee's appeal for the treatment of opening stock for the subsequent assessment year for statistical purposes. Both parties' appeals for the assessment year 2011-12 were dismissed, and the assessee's appeal for 2012-13 was allowed. Case-Laws Income Tax Thu, 06 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366968