https://www.taxtmi.com/caselaws?id=61027 The Tribunal upheld the CIT(A)'s decision to delete the trading addition of Rs. 6,71,090, as the Assessing Officer failed to prove the sales were bogus or that the goods were diverted for profit. The Tribunal also confirmed the deletion of the addition of Rs. 12,500 under Section 40A(2)(b) for reasonable rent paid to related parties. Additionally, the Tribunal upheld the addition of Rs. 4,000 for estimated packing material value and the disallowance of Rs. 1,000 from telephone expenses. The Third Member affirmed the CIT(A)'s order, dismissing the revenue's appeal and the assessee's cross-objection. en-us Fri, 27 Feb 1998 00:00:00 +0530 Mon, 10 Jan 2011 14:07:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61027 The Tribunal upheld the CIT(A)'s decision to delete the trading addition of Rs. 6,71,090, as the Assessing Officer failed to prove the sales were bogus or that the goods were diverted for profit. The Tribunal also confirmed the deletion of the addition of Rs. 12,500 under Section 40A(2)(b) for reasonable rent paid to related parties. Additionally, the Tribunal upheld the addition of Rs. 4,000 for estimated packing material value and the disallowance of Rs. 1,000 from telephone expenses. The Third Member affirmed the CIT(A)'s order, dismissing the revenue's appeal and the assessee's cross-objection. Case-Laws Income Tax Fri, 27 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61027