https://www.taxtmi.com/caselaws?id=59830 The tribunal ruled in favor of the appellant in a trading addition dispute, deleting the Rs. 14,850 addition imposed by the Income Tax Officer. The tribunal found no serious defect in the appellant's books of account and noted similar additions in prior years were deleted. In the penalty imposition under section 273, the tribunal canceled the penalty order of Rs. 1,936 upheld by the Commissioner (Appeals), agreeing with the appellant's argument on the reasonable revised income estimate and the lack of specific details in the penalty order. Both appeals were allowed by the tribunal. en-us Thu, 28 Jan 1982 00:00:00 +0530 Sat, 01 Jan 2011 13:42:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59830 The tribunal ruled in favor of the appellant in a trading addition dispute, deleting the Rs. 14,850 addition imposed by the Income Tax Officer. The tribunal found no serious defect in the appellant's books of account and noted similar additions in prior years were deleted. In the penalty imposition under section 273, the tribunal canceled the penalty order of Rs. 1,936 upheld by the Commissioner (Appeals), agreeing with the appellant's argument on the reasonable revised income estimate and the lack of specific details in the penalty order. Both appeals were allowed by the tribunal. Case-Laws Income Tax Thu, 28 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59830