https://www.taxtmi.com/caselaws?id=409358 The Tribunal partly allowed the appeal, confirming some additions while deleting others. It upheld the rejection of books of accounts and estimations, emphasizing accurate financial reporting. The Assessing Officer's actions in estimating gross profit based on rejected books were upheld, with additions made for suppressed lease rental income and understated amounts. However, additions for alleged fictitious liability and under section 41 were deleted. The decision highlighted the need for precise income reporting and supported the Assessing Officer's actions in ensuring accurate financial disclosures. en-us Tue, 22 Jun 2021 00:00:00 +0530 Tue, 06 Jul 2021 09:44:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409358 The Tribunal partly allowed the appeal, confirming some additions while deleting others. It upheld the rejection of books of accounts and estimations, emphasizing accurate financial reporting. The Assessing Officer's actions in estimating gross profit based on rejected books were upheld, with additions made for suppressed lease rental income and understated amounts. However, additions for alleged fictitious liability and under section 41 were deleted. The decision highlighted the need for precise income reporting and supported the Assessing Officer's actions in ensuring accurate financial disclosures. Case-Laws Income Tax Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409358