https://www.taxtmi.com/caselaws?id=388389 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO totaling Rs. 46,62,191/-, including discrepancies in stock valuation, interest-free advance to a sister concern, and disallowance of damages under Section 37. The CIT(A) found the AO's actions lacked tangible evidence and were based on flawed assumptions. The Tribunal agreed that the CIT(A)'s detailed explanations and supporting documents justified the deletions, ultimately dismissing the Revenue's appeal on all grounds. en-us Thu, 26 Sep 2019 00:00:00 +0530 Thu, 14 Nov 2019 17:58:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388389 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO totaling Rs. 46,62,191/-, including discrepancies in stock valuation, interest-free advance to a sister concern, and disallowance of damages under Section 37. The CIT(A) found the AO's actions lacked tangible evidence and were based on flawed assumptions. The Tribunal agreed that the CIT(A)'s detailed explanations and supporting documents justified the deletions, ultimately dismissing the Revenue's appeal on all grounds. Case-Laws Income Tax Thu, 26 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388389