https://www.taxtmi.com/caselaws?id=226190 The appellate tribunal upheld the deletion of Rs.2,00,000 for unexplained expenditure and Rs.16,62,705 for prior period expenses made by the Assessing Officer. The tribunal found the AO's additions to be factually incorrect and not reflective of real income. It determined that the transactions were properly accounted for in the books and that the amounts were not unexplained. Consequently, the tribunal dismissed the Revenue's appeal and affirmed the decisions of the lower authorities, disposing of the cross objection filed by the assessee accordingly. en-us Thu, 14 Feb 2013 00:00:00 +0530 Sat, 20 Apr 2013 21:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=226190 The appellate tribunal upheld the deletion of Rs.2,00,000 for unexplained expenditure and Rs.16,62,705 for prior period expenses made by the Assessing Officer. The tribunal found the AO's additions to be factually incorrect and not reflective of real income. It determined that the transactions were properly accounted for in the books and that the amounts were not unexplained. Consequently, the tribunal dismissed the Revenue's appeal and affirmed the decisions of the lower authorities, disposing of the cross objection filed by the assessee accordingly. Case-Laws Income Tax Thu, 14 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=226190