https://www.taxtmi.com/caselaws?id=431999 The tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition based on estimated additional gross profit and reject the AO's rejection of the books of account. It was found that the AO's addition led to double counting of profit already included in the sale value of the Work in Progress (WIP). The tribunal concluded that the Revenue failed to provide evidence to challenge the CIT(A)'s findings, resulting in the dismissal of the Revenue's grounds. en-us Fri, 02 Dec 2022 00:00:00 +0530 Mon, 26 Dec 2022 09:09:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431999 The tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition based on estimated additional gross profit and reject the AO's rejection of the books of account. It was found that the AO's addition led to double counting of profit already included in the sale value of the Work in Progress (WIP). The tribunal concluded that the Revenue failed to provide evidence to challenge the CIT(A)'s findings, resulting in the dismissal of the Revenue's grounds. Case-Laws Income Tax Fri, 02 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431999