https://www.taxtmi.com/caselaws?id=342979 The ITAT Mumbai addressed cross appeals related to the assessment year 2005-06, involving issues such as unaccounted expenditure, admission of additional evidence, and deletion of additions without party confirmation. The tribunal set aside the matter to the AO for fresh adjudication based on additional evidence presented by the assessee. The ITAT partly confirmed the disallowance of unexplained expenditure, considering discrepancies due to dishonored cheques and misaccounting. It also found the admission of additional evidence without allowing the Assessing Officer's opportunity to be a valid concern. The appeal by the revenue on deletion of an addition under section 69C was dismissed due to the tax effect falling below the specified threshold. en-us Fri, 05 May 2017 00:00:00 +0530 Wed, 17 May 2017 07:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342979 The ITAT Mumbai addressed cross appeals related to the assessment year 2005-06, involving issues such as unaccounted expenditure, admission of additional evidence, and deletion of additions without party confirmation. The tribunal set aside the matter to the AO for fresh adjudication based on additional evidence presented by the assessee. The ITAT partly confirmed the disallowance of unexplained expenditure, considering discrepancies due to dishonored cheques and misaccounting. It also found the admission of additional evidence without allowing the Assessing Officer's opportunity to be a valid concern. The appeal by the revenue on deletion of an addition under section 69C was dismissed due to the tax effect falling below the specified threshold. Case-Laws Income Tax Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342979