https://www.taxtmi.com/caselaws?id=425892 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order. It concluded that the AO's addition of Rs. 45,15,000/- was unjustified, as the material costs were already included in the sales figures, and the reopening of the assessment was based on a change of opinion without new information. The Tribunal also noted that considering the material as closing stock would have no tax effect, supporting the CIT(A)'s decision to delete the addition. en-us Fri, 29 Jul 2022 00:00:00 +0530 Wed, 03 Aug 2022 08:56:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425892 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order. It concluded that the AO's addition of Rs. 45,15,000/- was unjustified, as the material costs were already included in the sales figures, and the reopening of the assessment was based on a change of opinion without new information. The Tribunal also noted that considering the material as closing stock would have no tax effect, supporting the CIT(A)'s decision to delete the addition. Case-Laws Income Tax Fri, 29 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425892