https://www.taxtmi.com/caselaws?id=416054 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the disallowance of rate difference and discount amounting to Rs. 4,23,51,335 for the assessment year 2016-17. The Tribunal found the assessee's claims to be consistent with evidence and business practice, criticizing the AO's mechanical rejection without valid reasoning. Emphasizing the importance of logical reasoning and adherence to precedent, the Tribunal highlighted the genuineness of the claim supported by ledger accounts and circulars, ultimately ruling in favor of the assessee based on established patterns and evidence-backed claims. en-us Tue, 14 Dec 2021 00:00:00 +0530 Sat, 18 Dec 2021 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416054 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the disallowance of rate difference and discount amounting to Rs. 4,23,51,335 for the assessment year 2016-17. The Tribunal found the assessee's claims to be consistent with evidence and business practice, criticizing the AO's mechanical rejection without valid reasoning. Emphasizing the importance of logical reasoning and adherence to precedent, the Tribunal highlighted the genuineness of the claim supported by ledger accounts and circulars, ultimately ruling in favor of the assessee based on established patterns and evidence-backed claims. Case-Laws Income Tax Tue, 14 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416054