https://www.taxtmi.com/caselaws?id=402418 The tribunal dismissed the appellant's contentions regarding jurisdiction and validity of assessment orders under sections 153A and 143(3), as statutory approval was obtained. The additions for unsubstantiated milk purchases were deleted due to proper documentation and past acceptance by revenue. Disallowance under section 40A(3) for cash purchases was deleted as falling under exceptions. Additions for unexplained salary expenditure and unaccounted expenses were deleted or upheld based on evidence provided. The tribunal directed recomputation of interest under sections 234B and 234C and made adjustments for unaccounted sales, receipts, payments, and ledger balances. Overall, the appeals were partly allowed with significant deletions of additions and directions for interest recomputation. en-us Thu, 03 Dec 2020 00:00:00 +0530 Thu, 31 Dec 2020 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402418 The tribunal dismissed the appellant's contentions regarding jurisdiction and validity of assessment orders under sections 153A and 143(3), as statutory approval was obtained. The additions for unsubstantiated milk purchases were deleted due to proper documentation and past acceptance by revenue. Disallowance under section 40A(3) for cash purchases was deleted as falling under exceptions. Additions for unexplained salary expenditure and unaccounted expenses were deleted or upheld based on evidence provided. The tribunal directed recomputation of interest under sections 234B and 234C and made adjustments for unaccounted sales, receipts, payments, and ledger balances. Overall, the appeals were partly allowed with significant deletions of additions and directions for interest recomputation. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402418