https://www.taxtmi.com/caselaws?id=56263 The ITAT ruled in favor of the appellant, Anand Autoride Ltd., by deleting the addition of Rs. 10 lakhs as unaccounted income, citing consistent cash book records and minor discrepancies in statements as insufficient for such an addition. The protective addition against an employee was also removed. Additionally, the Tribunal ordered the reassessment of additional income for the years 1995-96 and 1996-97 in regular proceedings, as the primary basis for block assessment was invalidated. Both appeals were allowed, resulting in the annulment of the disputed income additions. en-us Fri, 28 Oct 2005 00:00:00 +0530 Tue, 09 Apr 2024 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56263 The ITAT ruled in favor of the appellant, Anand Autoride Ltd., by deleting the addition of Rs. 10 lakhs as unaccounted income, citing consistent cash book records and minor discrepancies in statements as insufficient for such an addition. The protective addition against an employee was also removed. Additionally, the Tribunal ordered the reassessment of additional income for the years 1995-96 and 1996-97 in regular proceedings, as the primary basis for block assessment was invalidated. Both appeals were allowed, resulting in the annulment of the disputed income additions. Case-Laws Income Tax Fri, 28 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56263