https://www.taxtmi.com/caselaws?id=410530 The ITAT partially allowed the appeal against the CIT(A)'s decision, reducing the addition made by the Assessing Officer due to discrepancies in income as per Form 26AS and profit and loss account. The ITAT found the rejection of the appellant's explanation for sales differences without proper justification unsustainable and directed that the addition should be limited to the difference accepted by the assessee in its explanation, resulting in a reduced addition of Rs. 3,13,698 + Rs. 6,28,000. The judgment was pronounced on 28/07/2021. en-us Wed, 28 Jul 2021 00:00:00 +0530 Wed, 04 Aug 2021 08:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410530 The ITAT partially allowed the appeal against the CIT(A)'s decision, reducing the addition made by the Assessing Officer due to discrepancies in income as per Form 26AS and profit and loss account. The ITAT found the rejection of the appellant's explanation for sales differences without proper justification unsustainable and directed that the addition should be limited to the difference accepted by the assessee in its explanation, resulting in a reduced addition of Rs. 3,13,698 + Rs. 6,28,000. The judgment was pronounced on 28/07/2021. Case-Laws Income Tax Wed, 28 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410530