https://www.taxtmi.com/caselaws?id=276428 The Tribunal confirmed the addition of Rs. 3.12 crores under section 68 of the Income Tax Act, denying the deduction claimed by the assessee under section 80IC due to discrepancies in cash sales. The disallowance of Rs. 46,120 under section 40A(3) was upheld but directed to enhance business income for eligibility of deduction under section 80IC. The issue of charging interest under section 234B was not separately contested. The appeal was partly allowed, affirming the addition under section 68 and instructing the AO to allow deduction under section 80IC on the disallowed amount under section 40A(3). en-us Wed, 19 Oct 2011 00:00:00 +0530 Sat, 10 Nov 2018 13:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276428 The Tribunal confirmed the addition of Rs. 3.12 crores under section 68 of the Income Tax Act, denying the deduction claimed by the assessee under section 80IC due to discrepancies in cash sales. The disallowance of Rs. 46,120 under section 40A(3) was upheld but directed to enhance business income for eligibility of deduction under section 80IC. The issue of charging interest under section 234B was not separately contested. The appeal was partly allowed, affirming the addition under section 68 and instructing the AO to allow deduction under section 80IC on the disallowed amount under section 40A(3). Case-Laws Income Tax Wed, 19 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276428