https://www.taxtmi.com/caselaws?id=412896 The Tribunal partially granted relief to the assessee by adjusting the net profit estimation, eliminating the addition concerning Mr. Rahul, and recalculating interest on loans and advances. It upheld the CIT(A)'s rulings on unexplained investments and business loss, permitting suitable telescoping benefits. Consequently, a final taxable addition of Rs. 15,99,768 for AY 2011-12 was determined. The appeals for AY 2011-12 were partly allowed for the assessee and dismissed for the Revenue, with the appeal for AY 2012-13 also being dismissed for the Revenue. en-us Mon, 02 Aug 2021 00:00:00 +0530 Thu, 30 Sep 2021 09:19:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412896 The Tribunal partially granted relief to the assessee by adjusting the net profit estimation, eliminating the addition concerning Mr. Rahul, and recalculating interest on loans and advances. It upheld the CIT(A)'s rulings on unexplained investments and business loss, permitting suitable telescoping benefits. Consequently, a final taxable addition of Rs. 15,99,768 for AY 2011-12 was determined. The appeals for AY 2011-12 were partly allowed for the assessee and dismissed for the Revenue, with the appeal for AY 2012-13 also being dismissed for the Revenue. Case-Laws Income Tax Mon, 02 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412896