https://www.taxtmi.com/caselaws?id=444034 The Tribunal dismissed all appeals filed by the Revenue, condoning delays in filing. The CIT(A) deleted additions made by the Assessing Officer under various heads due to lack of evidence. Disallowance of payments to contractors was overturned as they were not contractual. Alleged excess stock additions were deleted for lack of proof of unaccounted income. Disallowance under Section 40A(3) for bearer cheques was reversed as payments were made through RTGS. Bogus purchase allegations were dismissed due to justified higher prices. Discrepancies in closing stock valuation were attributed to software changes. Unaccounted purchases were deemed accounted for, and on-money land acquisition payments were found to be legitimate. Non-deduction of TDS was excused due to recipient's income declaration. en-us Wed, 13 Sep 2023 00:00:00 +0530 Sat, 07 Oct 2023 08:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444034 The Tribunal dismissed all appeals filed by the Revenue, condoning delays in filing. The CIT(A) deleted additions made by the Assessing Officer under various heads due to lack of evidence. Disallowance of payments to contractors was overturned as they were not contractual. Alleged excess stock additions were deleted for lack of proof of unaccounted income. Disallowance under Section 40A(3) for bearer cheques was reversed as payments were made through RTGS. Bogus purchase allegations were dismissed due to justified higher prices. Discrepancies in closing stock valuation were attributed to software changes. Unaccounted purchases were deemed accounted for, and on-money land acquisition payments were found to be legitimate. Non-deduction of TDS was excused due to recipient's income declaration. Case-Laws Income Tax Wed, 13 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444034