https://www.taxtmi.com/caselaws?id=278274 The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal, directing the deletion of the entire addition made towards gross profit estimation and the adhoc disallowance of Rs. 1 crore. The Tribunal emphasized that the AO had erred in rejecting the books of account and estimating the gross profit without proper justification, and the CIT(A) had wrongly sustained the adhoc disallowance. en-us Wed, 10 Oct 2018 00:00:00 +0530 Tue, 22 Jan 2019 07:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278274 The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal, directing the deletion of the entire addition made towards gross profit estimation and the adhoc disallowance of Rs. 1 crore. The Tribunal emphasized that the AO had erred in rejecting the books of account and estimating the gross profit without proper justification, and the CIT(A) had wrongly sustained the adhoc disallowance. Case-Laws Income Tax Wed, 10 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278274