https://www.taxtmi.com/caselaws?id=375770 The tribunal upheld the Commissioner of Income-Tax (Appeals) decision to delete additions for unexplained investment and inflation of purchases, citing errors in the Assessing Officer's reliance on input-output norms. The tribunal also supported the enhancement of deduction under Section 10B due to foreign exchange fluctuation loss. However, the issue of disallowance for late payment of employees' contribution towards PF/ESI was restored to the AO for fresh adjudication. The tribunal dismissed the appeal and partially allowed the cross-objection, pronouncing the order on 01/01/2019. en-us Tue, 01 Jan 2019 00:00:00 +0530 Mon, 25 Feb 2019 19:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375770 The tribunal upheld the Commissioner of Income-Tax (Appeals) decision to delete additions for unexplained investment and inflation of purchases, citing errors in the Assessing Officer's reliance on input-output norms. The tribunal also supported the enhancement of deduction under Section 10B due to foreign exchange fluctuation loss. However, the issue of disallowance for late payment of employees' contribution towards PF/ESI was restored to the AO for fresh adjudication. The tribunal dismissed the appeal and partially allowed the cross-objection, pronouncing the order on 01/01/2019. Case-Laws Income Tax Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375770