https://www.taxtmi.com/caselaws?id=259350 The High Court upheld the Tribunal's decision to delete an addition of Rs. 43,07,179 as unexplained expenditure under Section 69/69(C) of the Income Tax Act. The Court found that since the assessee did not offer or claim the amount as expenditure, invoking Section 69/69(C) was unjustified. The Court emphasized the necessity of substantiating additions under the Act with proper evidence to avoid unwarranted assessments. The tax appeal challenging the deletion of the addition was dismissed, with the High Court finding no substantial question of law in the case. en-us Mon, 13 Apr 2015 00:00:00 +0530 Fri, 08 May 2015 08:14:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259350 The High Court upheld the Tribunal's decision to delete an addition of Rs. 43,07,179 as unexplained expenditure under Section 69/69(C) of the Income Tax Act. The Court found that since the assessee did not offer or claim the amount as expenditure, invoking Section 69/69(C) was unjustified. The Court emphasized the necessity of substantiating additions under the Act with proper evidence to avoid unwarranted assessments. The tax appeal challenging the deletion of the addition was dismissed, with the High Court finding no substantial question of law in the case. Case-Laws Income Tax Mon, 13 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259350