https://www.taxtmi.com/caselaws?id=394614 The Tribunal upheld the CIT(A)'s decisions to delete various additions made by the AO, including unexplained investment in rough diamonds, unaccounted income from sale of polished diamonds, unaccounted manufacturing expenses, unaccounted income from manufacturing finished diamonds, and undervaluation of closing stock. The Tribunal also confirmed the rejection of books of accounts under section 145 of the Act but allowed deductions for unaccounted manufacturing expenditure. Additionally, the Tribunal set aside an addition for alleged unexplained investment in finished diamonds due to procedural irregularities. en-us Tue, 04 Feb 2020 00:00:00 +0530 Sat, 18 Apr 2020 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394614 The Tribunal upheld the CIT(A)'s decisions to delete various additions made by the AO, including unexplained investment in rough diamonds, unaccounted income from sale of polished diamonds, unaccounted manufacturing expenses, unaccounted income from manufacturing finished diamonds, and undervaluation of closing stock. The Tribunal also confirmed the rejection of books of accounts under section 145 of the Act but allowed deductions for unaccounted manufacturing expenditure. Additionally, the Tribunal set aside an addition for alleged unexplained investment in finished diamonds due to procedural irregularities. Case-Laws Income Tax Tue, 04 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394614