https://www.taxtmi.com/caselaws?id=185407 The Tribunal allowed the assessee's appeal in part, deleting the addition made under section 69 for alleged unexplained investment. The Tribunal held that the deeming provision of section 50C cannot be extended to section 69 without positive evidence. However, the disallowance of petrol, vehicle depreciation, and telephone expenses was upheld. Additionally, the deletion of the addition under section 41(1) for cessation of liability was affirmed, as the liabilities were found to be ongoing. The Revenue's appeal was dismissed, and the Tribunal's order was pronounced on 18th March 2011. en-us Fri, 18 Mar 2011 00:00:00 +0530 Thu, 11 Aug 2016 17:36:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185407 The Tribunal allowed the assessee's appeal in part, deleting the addition made under section 69 for alleged unexplained investment. The Tribunal held that the deeming provision of section 50C cannot be extended to section 69 without positive evidence. However, the disallowance of petrol, vehicle depreciation, and telephone expenses was upheld. Additionally, the deletion of the addition under section 41(1) for cessation of liability was affirmed, as the liabilities were found to be ongoing. The Revenue's appeal was dismissed, and the Tribunal's order was pronounced on 18th March 2011. Case-Laws Income Tax Fri, 18 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185407