https://www.taxtmi.com/caselaws?id=403578 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,12,53,958/- made by the AO on an estimate basis for the A.Y. 2011-2012. The CIT(A) accepted the trading results provided by the assessee after reconciliation of discrepancies, finding no justification for the higher income estimation of Rs. 2.50 crores by the AO. The Tribunal emphasized that the books of account were not rejected and dismissed the Revenue's appeal, affirming the deletion of the addition by the CIT(A). en-us Mon, 01 Feb 2021 00:00:00 +0530 Tue, 02 Feb 2021 15:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403578 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,12,53,958/- made by the AO on an estimate basis for the A.Y. 2011-2012. The CIT(A) accepted the trading results provided by the assessee after reconciliation of discrepancies, finding no justification for the higher income estimation of Rs. 2.50 crores by the AO. The Tribunal emphasized that the books of account were not rejected and dismissed the Revenue's appeal, affirming the deletion of the addition by the CIT(A). Case-Laws Income Tax Mon, 01 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403578