https://www.taxtmi.com/caselaws?id=309812 The Tribunal upheld the Commissioner of Income Tax (Appeals) decisions in both issues, emphasizing the lack of substantial grounds for disallowance. Regarding the deletion of disallowance of work payment expenses, the Tribunal found that the Assessing Officer wrongly calculated the profit rate and failed to prove discrepancies, ultimately dismissing the Revenue's appeal. Similarly, in the case of excavation charges, the Tribunal refuted the Revenue's claim of reduced profits, noting that even if the expenses were bogus, the profit increase alleged was implausible. The Tribunal's scrutiny of financial data supported the dismissal of the Revenue's appeals. en-us Thu, 08 Mar 2018 00:00:00 +0530 Fri, 22 Sep 2023 09:12:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309812 The Tribunal upheld the Commissioner of Income Tax (Appeals) decisions in both issues, emphasizing the lack of substantial grounds for disallowance. Regarding the deletion of disallowance of work payment expenses, the Tribunal found that the Assessing Officer wrongly calculated the profit rate and failed to prove discrepancies, ultimately dismissing the Revenue's appeal. Similarly, in the case of excavation charges, the Tribunal refuted the Revenue's claim of reduced profits, noting that even if the expenses were bogus, the profit increase alleged was implausible. The Tribunal's scrutiny of financial data supported the dismissal of the Revenue's appeals. Case-Laws Income Tax Thu, 08 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309812