https://www.taxtmi.com/caselaws?id=383142 The HC upheld the Tribunal's decision to reduce the addition under Section 68 of the Income Tax Act from Rs. 23.16 Lakhs to Rs. 2,21,600, as the Assessing Officer did not reject the related purchases or sales. The HC also supported the Tribunal's deletion of the enhancement of Gross Profit from 2.59% to 6.00% by the Commissioner (Appeals), citing a lack of evidence to reject the Assessee's book results. In both matters, the HC found no question of law and dismissed the Revenue's appeal, affirming the Tribunal's rulings. en-us Mon, 15 Jul 2019 00:00:00 +0530 Thu, 25 Jan 2024 08:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383142 The HC upheld the Tribunal's decision to reduce the addition under Section 68 of the Income Tax Act from Rs. 23.16 Lakhs to Rs. 2,21,600, as the Assessing Officer did not reject the related purchases or sales. The HC also supported the Tribunal's deletion of the enhancement of Gross Profit from 2.59% to 6.00% by the Commissioner (Appeals), citing a lack of evidence to reject the Assessee's book results. In both matters, the HC found no question of law and dismissed the Revenue's appeal, affirming the Tribunal's rulings. Case-Laws Income Tax Mon, 15 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383142