https://www.taxtmi.com/caselaws?id=293565 The Tribunal dismissed the Revenue's appeal, upholding the Ld. Commissioner of Income Tax (A)'s decision in both issues. The Assessing Officer's additions on expenses were deemed unsustainable as the actual GP rate was higher, and no defects were found in the audited books of accounts. The deletion of the addition related to alleged gifts was upheld, as the donors' financial capacity, relationship with the assessee, and evidence provided confirmed the genuineness of the gifts. en-us Wed, 19 Dec 2012 00:00:00 +0530 Thu, 18 Feb 2021 16:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293565 The Tribunal dismissed the Revenue's appeal, upholding the Ld. Commissioner of Income Tax (A)'s decision in both issues. The Assessing Officer's additions on expenses were deemed unsustainable as the actual GP rate was higher, and no defects were found in the audited books of accounts. The deletion of the addition related to alleged gifts was upheld, as the donors' financial capacity, relationship with the assessee, and evidence provided confirmed the genuineness of the gifts. Case-Laws Income Tax Wed, 19 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293565