https://www.taxtmi.com/caselaws?id=305075 The revenue's appeal against the Commissioner of Income-tax (Appeals) order was dismissed. The Tribunal upheld the deletion of the undisclosed loan addition as it was found reflected in the balance sheet under 'Term Loan'. Additionally, the estimated addition for cost of construction was deleted as the books of account were not rejected, following the principle from the Sargam Talkies case. The Tribunal noted the minor cost discrepancy was within a 10% margin, possibly due to self-supervision, further supporting the deletion of the addition. The cross objection of the assessee was allowed. en-us Mon, 25 Jun 2012 00:00:00 +0530 Tue, 15 Nov 2022 10:11:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305075 The revenue's appeal against the Commissioner of Income-tax (Appeals) order was dismissed. The Tribunal upheld the deletion of the undisclosed loan addition as it was found reflected in the balance sheet under 'Term Loan'. Additionally, the estimated addition for cost of construction was deleted as the books of account were not rejected, following the principle from the Sargam Talkies case. The Tribunal noted the minor cost discrepancy was within a 10% margin, possibly due to self-supervision, further supporting the deletion of the addition. The cross objection of the assessee was allowed. Case-Laws Income Tax Mon, 25 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305075