https://www.taxtmi.com/caselaws?id=218378 The ITAT upheld the partial addition of unexplained expenditure under section 69C of the Income Tax Act, reducing it to Rs.30,00,000 as an estimate. The tribunal emphasized the importance of accurate working and valuation reports to justify claims and WIP values, dismissing the revenue's appeal and underscoring the need for fair assessment practices. en-us Fri, 05 Oct 2012 00:00:00 +0530 Sat, 03 Nov 2012 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218378 The ITAT upheld the partial addition of unexplained expenditure under section 69C of the Income Tax Act, reducing it to Rs.30,00,000 as an estimate. The tribunal emphasized the importance of accurate working and valuation reports to justify claims and WIP values, dismissing the revenue's appeal and underscoring the need for fair assessment practices. Case-Laws Income Tax Fri, 05 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218378