https://www.taxtmi.com/caselaws?id=58705 The ITAT BOMBAY-C upheld the AAC's decisions in two Departmental appeals. Firstly, it supported the AAC's direction to accept book results for assessment years 1971-72 and 1974-75, emphasizing the need for valid grounds to justify additions to gross profit. Secondly, it upheld the AAC's deletion of the disallowance of the assessee's claim for loss of goods in transit for the same assessment years, considering the efforts made by the assessee to recover the amount and supporting evidence of the loss in transit. The Tribunal dismissed the Departmental appeals based on the evidence and reasoning presented. en-us Thu, 14 Sep 1978 00:00:00 +0530 Tue, 21 Dec 2010 16:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58705 The ITAT BOMBAY-C upheld the AAC's decisions in two Departmental appeals. Firstly, it supported the AAC's direction to accept book results for assessment years 1971-72 and 1974-75, emphasizing the need for valid grounds to justify additions to gross profit. Secondly, it upheld the AAC's deletion of the disallowance of the assessee's claim for loss of goods in transit for the same assessment years, considering the efforts made by the assessee to recover the amount and supporting evidence of the loss in transit. The Tribunal dismissed the Departmental appeals based on the evidence and reasoning presented. Case-Laws Income Tax Thu, 14 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58705