https://www.taxtmi.com/caselaws?id=442192 The Tribunal dismissed the challenge to the initiation of re-assessment proceedings and upheld the addition of unrecorded profits from transactions in the Paddy Basmati account. However, the Tribunal directed the deletion of the addition made for profits from transactions not offered for taxation. The disallowance of expenses was restricted to 20% by the Tribunal. The judgment was delivered by the Appellate Tribunal ITAT Pune, partly allowing the appeals on 12th July, 2023. en-us Wed, 12 Jul 2023 00:00:00 +0530 Sat, 26 Aug 2023 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442192 The Tribunal dismissed the challenge to the initiation of re-assessment proceedings and upheld the addition of unrecorded profits from transactions in the Paddy Basmati account. However, the Tribunal directed the deletion of the addition made for profits from transactions not offered for taxation. The disallowance of expenses was restricted to 20% by the Tribunal. The judgment was delivered by the Appellate Tribunal ITAT Pune, partly allowing the appeals on 12th July, 2023. Case-Laws Income Tax Wed, 12 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442192