https://www.taxtmi.com/caselaws?id=428558 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal. It held that the addition made under section 68 of the IT Act was not justified. The Tribunal also found the rejection of the books of accounts and the estimation of the net profit rate to be incorrect. It emphasized the necessity of specific defects and credible evidence in such determinations. en-us Thu, 29 Sep 2022 00:00:00 +0530 Mon, 12 Jun 2023 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428558 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal. It held that the addition made under section 68 of the IT Act was not justified. The Tribunal also found the rejection of the books of accounts and the estimation of the net profit rate to be incorrect. It emphasized the necessity of specific defects and credible evidence in such determinations. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428558