https://www.taxtmi.com/caselaws?id=393796 The appeal was partly allowed. The Tribunal upheld the cash method of accounting, deleted the addition of Rs. 5,72,17,800/- to the total income, and rejected the allegation of no real business activity. The computation of total income by the AO was deemed incorrect, and the related disallowance of expenses was overturned. The charging of interest under sections 234A and 234B was considered statutory. The initiation of penalty proceedings under section 271(1)(c) was dismissed as premature. en-us Fri, 17 Jan 2020 00:00:00 +0530 Mon, 23 Mar 2020 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393796 The appeal was partly allowed. The Tribunal upheld the cash method of accounting, deleted the addition of Rs. 5,72,17,800/- to the total income, and rejected the allegation of no real business activity. The computation of total income by the AO was deemed incorrect, and the related disallowance of expenses was overturned. The charging of interest under sections 234A and 234B was considered statutory. The initiation of penalty proceedings under section 271(1)(c) was dismissed as premature. Case-Laws Income Tax Fri, 17 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393796