https://www.taxtmi.com/caselaws?id=427634 The Revenue's appeal was allowed for statistical purposes, as the Tribunal ordered the second ground to be sent back to the AO for factual verification regarding the additional evidence on work-in-progress. The Assessee's cross objection on tax effect was dismissed due to lack of pursuit during the hearing. The decision emphasized the importance of factual verification in admitting additional evidence and highlighted the treatment of work-in-progress in contract businesses, ensuring compliance with relevant tax rules. en-us Fri, 26 Aug 2022 00:00:00 +0530 Wed, 14 Sep 2022 09:22:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427634 The Revenue's appeal was allowed for statistical purposes, as the Tribunal ordered the second ground to be sent back to the AO for factual verification regarding the additional evidence on work-in-progress. The Assessee's cross objection on tax effect was dismissed due to lack of pursuit during the hearing. The decision emphasized the importance of factual verification in admitting additional evidence and highlighted the treatment of work-in-progress in contract businesses, ensuring compliance with relevant tax rules. Case-Laws Income Tax Fri, 26 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427634