https://www.taxtmi.com/caselaws?id=414155 The Tribunal ruled in favor of the assessee, holding that only the net profit element from unaccounted receipts should be taxed, not the entire gross receipts. The Tribunal found that the AO's decision to tax the entire amount was unjustified, citing judicial precedents. As a result, the Tribunal set aside the CIT(A)'s order and deleted the additions made by the AO, allowing the assessee's appeals. en-us Tue, 26 Oct 2021 00:00:00 +0530 Fri, 29 Oct 2021 08:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414155 The Tribunal ruled in favor of the assessee, holding that only the net profit element from unaccounted receipts should be taxed, not the entire gross receipts. The Tribunal found that the AO's decision to tax the entire amount was unjustified, citing judicial precedents. As a result, the Tribunal set aside the CIT(A)'s order and deleted the additions made by the AO, allowing the assessee's appeals. Case-Laws Income Tax Tue, 26 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414155