https://www.taxtmi.com/caselaws?id=435470 The ITAT Delhi allowed the appeal of the assessee, setting aside the orders of the lower authorities. The court emphasized that the ad hoc disallowances lacked specific reasoning and were not supported by the slight decrease in the gross profit ratio. The judgment underscores the significance of providing cogent reasoning for income tax assessments and disallowances, rather than making arbitrary additions without proper documentation or justification. en-us Thu, 16 Mar 2023 00:00:00 +0530 Tue, 21 Mar 2023 08:15:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435470 The ITAT Delhi allowed the appeal of the assessee, setting aside the orders of the lower authorities. The court emphasized that the ad hoc disallowances lacked specific reasoning and were not supported by the slight decrease in the gross profit ratio. The judgment underscores the significance of providing cogent reasoning for income tax assessments and disallowances, rather than making arbitrary additions without proper documentation or justification. Case-Laws Income Tax Thu, 16 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435470