https://www.taxtmi.com/caselaws?id=420028 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. Regarding the mark-up price on closing stock, the Tribunal found the AO erred in reducing the mark-up to 25% without evidence, supporting the assessee's claim of a 32% mark-up. Concerning the disallowance of employees' PF contributions, the Tribunal agreed with the CIT(A) that contributions made before the due date for filing returns are allowable deductions, deleting the additions. en-us Wed, 09 Mar 2022 00:00:00 +0530 Fri, 25 Mar 2022 08:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420028 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. Regarding the mark-up price on closing stock, the Tribunal found the AO erred in reducing the mark-up to 25% without evidence, supporting the assessee's claim of a 32% mark-up. Concerning the disallowance of employees' PF contributions, the Tribunal agreed with the CIT(A) that contributions made before the due date for filing returns are allowable deductions, deleting the additions. Case-Laws Income Tax Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420028