https://www.taxtmi.com/caselaws?id=428300 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. The Tribunal upheld the CIT(A)'s decision to delete additions related to estimation of gross profit, under-valuation of excess stock, under-valuation of chemical stock, unaccounted purchase, and unexplained cash credit. The Tribunal also directed the AO to treat repair and maintenance expenses as revenue expenditure. The issue of late payment of PF and ESIC was remitted back to the CIT(A) pending the Supreme Court's decision. en-us Fri, 23 Sep 2022 00:00:00 +0530 Tue, 27 Sep 2022 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428300 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. The Tribunal upheld the CIT(A)'s decision to delete additions related to estimation of gross profit, under-valuation of excess stock, under-valuation of chemical stock, unaccounted purchase, and unexplained cash credit. The Tribunal also directed the AO to treat repair and maintenance expenses as revenue expenditure. The issue of late payment of PF and ESIC was remitted back to the CIT(A) pending the Supreme Court's decision. Case-Laws Income Tax Fri, 23 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428300