https://www.taxtmi.com/caselaws?id=409955 The appeal was partly allowed in the case. The addition on account of low Gross Profit and the disallowance of freight expenditure were deleted. The adhoc disallowance of expenses was reduced to 5% from the initial 12.5% determined by the CIT(A). The Tribunal emphasized the importance of identifying defects in the books of account before making additions based on low Gross Profit and highlighted the significance of proper documentation for claimed expenses. en-us Thu, 15 Jul 2021 00:00:00 +0530 Wed, 21 Jul 2021 10:08:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409955 The appeal was partly allowed in the case. The addition on account of low Gross Profit and the disallowance of freight expenditure were deleted. The adhoc disallowance of expenses was reduced to 5% from the initial 12.5% determined by the CIT(A). The Tribunal emphasized the importance of identifying defects in the books of account before making additions based on low Gross Profit and highlighted the significance of proper documentation for claimed expenses. Case-Laws Income Tax Thu, 15 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409955