https://www.taxtmi.com/caselaws?id=353989 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 8,06,14,288/- made by the AO under Section 69C of the Income Tax Act. The Tribunal found that the AO's presumption of unaccounted expenditures based on diary entries related to political activities lacked concrete evidence and was merely speculative. The Tribunal emphasized the insufficiency of the diary entries as proof of actual financial transactions and dismissed the Revenue's appeal, highlighting the importance of corroborative evidence in such cases. en-us Fri, 12 Jan 2018 00:00:00 +0530 Tue, 16 Jan 2018 09:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353989 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 8,06,14,288/- made by the AO under Section 69C of the Income Tax Act. The Tribunal found that the AO's presumption of unaccounted expenditures based on diary entries related to political activities lacked concrete evidence and was merely speculative. The Tribunal emphasized the insufficiency of the diary entries as proof of actual financial transactions and dismissed the Revenue's appeal, highlighting the importance of corroborative evidence in such cases. Case-Laws Income Tax Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353989