https://www.taxtmi.com/caselaws?id=251243 The Tribunal upheld the CIT(A)'s decision to disallow the entire claimed electricity expenditure due to the liability not pertaining to the assessee. It confirmed the deletion of unexplained credits against sales as a brought forward figure from liabilities. The treatment of lease rent as business income was upheld, allowing related expenses. The Tribunal dismissed the ground of admitting additional evidence without granting the Assessing Officer an opportunity. It remitted the issue of unexplained investment for further examination and partially reduced the addition for unexplained jewellery, directing reassessment. The appeals of the revenue were dismissed, and the assessee's appeals were partly allowed for statistical purposes. en-us Fri, 28 Mar 2014 00:00:00 +0530 Mon, 08 Sep 2014 10:53:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251243 The Tribunal upheld the CIT(A)'s decision to disallow the entire claimed electricity expenditure due to the liability not pertaining to the assessee. It confirmed the deletion of unexplained credits against sales as a brought forward figure from liabilities. The treatment of lease rent as business income was upheld, allowing related expenses. The Tribunal dismissed the ground of admitting additional evidence without granting the Assessing Officer an opportunity. It remitted the issue of unexplained investment for further examination and partially reduced the addition for unexplained jewellery, directing reassessment. The appeals of the revenue were dismissed, and the assessee's appeals were partly allowed for statistical purposes. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251243