https://www.taxtmi.com/caselaws?id=272264 The tribunal allowed the assessee's appeal, deleting the addition of Rs. 65.50 lakhs as undisclosed income under Section 69A of the Income Tax Act. The tribunal found the explanation that the receipts were for inter-branch cash transfers plausible and criticized the lack of corroborative evidence supporting the addition. Additionally, the tribunal deleted the disallowance of Rs. 8,27,275 on account of deferred revenue expenses, emphasizing that the expenses were wholly and exclusively for business purposes and criticizing the lack of justifiable reasons provided by the lower authorities for disallowing the expenses. en-us Thu, 22 Jan 2015 00:00:00 +0530 Tue, 17 Apr 2018 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272264 The tribunal allowed the assessee's appeal, deleting the addition of Rs. 65.50 lakhs as undisclosed income under Section 69A of the Income Tax Act. The tribunal found the explanation that the receipts were for inter-branch cash transfers plausible and criticized the lack of corroborative evidence supporting the addition. Additionally, the tribunal deleted the disallowance of Rs. 8,27,275 on account of deferred revenue expenses, emphasizing that the expenses were wholly and exclusively for business purposes and criticizing the lack of justifiable reasons provided by the lower authorities for disallowing the expenses. Case-Laws Income Tax Thu, 22 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272264