https://www.taxtmi.com/caselaws?id=188557 The Appellate Tribunal ITAT Mumbai allowed the assessee's appeal against the CIT(A) order for addition under section 69C of the I.T. Act for unexplained expenditure on commission and cost of shares. The Tribunal held that the addition for unexplained expenditure on commission was not justified as there was no evidence to prove the expenditure. Additionally, it was ruled that if the entire sale proceeds are taxed, no separate addition for the cost of shares is warranted under section 69C. Grounds 3 and 4, which were general in nature, were not adjudicated. The order was pronounced on February 26, 2010. en-us Fri, 26 Feb 2010 00:00:00 +0530 Thu, 29 Dec 2016 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188557 The Appellate Tribunal ITAT Mumbai allowed the assessee's appeal against the CIT(A) order for addition under section 69C of the I.T. Act for unexplained expenditure on commission and cost of shares. The Tribunal held that the addition for unexplained expenditure on commission was not justified as there was no evidence to prove the expenditure. Additionally, it was ruled that if the entire sale proceeds are taxed, no separate addition for the cost of shares is warranted under section 69C. Grounds 3 and 4, which were general in nature, were not adjudicated. The order was pronounced on February 26, 2010. Case-Laws Income Tax Fri, 26 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188557