https://www.taxtmi.com/caselaws?id=758943 The ITAT ruled in favor of the appellant, allowing both appeals concerning the assessment years 2015-16 and 2016-17. The Tribunal validated the revised return of income, dismissing the Assessing Officer's treatment of it as invalid, and found no grounds for additional income under section 68. Additionally, the ITAT overturned the Commissioner of Income Tax (Appeals)'s decision to uphold the addition based on revised VAT returns, confirming the accuracy of the sales figures. The Tribunal's decision, pronounced on 23rd August 2024 in Chennai, favored the appellant, addressing both the validity of the revised return and the consideration of increased sales. en-us Fri, 23 Aug 2024 00:00:00 +0530 Sat, 21 Sep 2024 07:25:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758943 The ITAT ruled in favor of the appellant, allowing both appeals concerning the assessment years 2015-16 and 2016-17. The Tribunal validated the revised return of income, dismissing the Assessing Officer's treatment of it as invalid, and found no grounds for additional income under section 68. Additionally, the ITAT overturned the Commissioner of Income Tax (Appeals)'s decision to uphold the addition based on revised VAT returns, confirming the accuracy of the sales figures. The Tribunal's decision, pronounced on 23rd August 2024 in Chennai, favored the appellant, addressing both the validity of the revised return and the consideration of increased sales. Case-Laws Income Tax Fri, 23 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758943