https://www.taxtmi.com/caselaws?id=410695 The appellate tribunal allowed the appeal of the assessee, overturning the additions made by the lower authorities. The rejection of books of accounts and addition of income based on average net profit were deemed unjustified due to insufficient verification of transactions with unverified parties and lack of proper consideration of evidence provided by the assessee. The tribunal criticized the lower authorities for not adequately assessing the details and documents submitted, ultimately concluding that the additions were not justified. en-us Fri, 16 Jul 2021 00:00:00 +0530 Sat, 07 Aug 2021 08:50:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410695 The appellate tribunal allowed the appeal of the assessee, overturning the additions made by the lower authorities. The rejection of books of accounts and addition of income based on average net profit were deemed unjustified due to insufficient verification of transactions with unverified parties and lack of proper consideration of evidence provided by the assessee. The tribunal criticized the lower authorities for not adequately assessing the details and documents submitted, ultimately concluding that the additions were not justified. Case-Laws Income Tax Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410695