https://www.taxtmi.com/caselaws?id=411287 The Tribunal dismissed the revenue's appeal against the CIT(A)'s decision to delete the addition of Rs. 2,19,56,917/- made by the AO. The Tribunal held that the AO's use of Section 40A(2)(b) to estimate income was incorrect as the section pertains to disallowing excessive expenses, not income estimation. This decision aligned with past Tribunal rulings involving similar cases within the assessee's group, emphasizing that the AO's approach was unjustified. en-us Tue, 17 Aug 2021 00:00:00 +0530 Sat, 21 Aug 2021 08:32:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411287 The Tribunal dismissed the revenue's appeal against the CIT(A)'s decision to delete the addition of Rs. 2,19,56,917/- made by the AO. The Tribunal held that the AO's use of Section 40A(2)(b) to estimate income was incorrect as the section pertains to disallowing excessive expenses, not income estimation. This decision aligned with past Tribunal rulings involving similar cases within the assessee's group, emphasizing that the AO's approach was unjustified. Case-Laws Income Tax Tue, 17 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411287