https://www.taxtmi.com/caselaws?id=374546 The appellant, a wholesale trader of fireworks, appealed against the Income Tax Appellate Tribunal's order for the assessment year 2007-2008. The appellant contested a declaration obtained under coercion during a search under Section 133-A of the IT Act, where he surrendered a total of Rs. 24,75,000. The Assessing Authority made additions to taxable income, including on account of gross profit, surrendered income, and disallowed expenses. The Appellate Authority affirmed some additions but deleted others. The Income Tax Appellate Tribunal partially allowed the Revenue's appeal, restricting the addition based on stock valuation to Rs. 10,00,000. The appellant's challenge based on the Supreme Court's ruling was rejected, and the appeal was dismissed. en-us Wed, 16 Jan 2019 00:00:00 +0530 Mon, 04 Feb 2019 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374546 The appellant, a wholesale trader of fireworks, appealed against the Income Tax Appellate Tribunal's order for the assessment year 2007-2008. The appellant contested a declaration obtained under coercion during a search under Section 133-A of the IT Act, where he surrendered a total of Rs. 24,75,000. The Assessing Authority made additions to taxable income, including on account of gross profit, surrendered income, and disallowed expenses. The Appellate Authority affirmed some additions but deleted others. The Income Tax Appellate Tribunal partially allowed the Revenue's appeal, restricting the addition based on stock valuation to Rs. 10,00,000. The appellant's challenge based on the Supreme Court's ruling was rejected, and the appeal was dismissed. Case-Laws Income Tax Wed, 16 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374546