https://www.taxtmi.com/caselaws?id=375507 The Tribunal set aside the deletion of an addition made under various sections of the IT Act for unexplained expenditure related to business transactions. It found that the CIT(A) erred in not considering the revenue's arguments and the lack of evidence supporting the claimed expenditure. The case was remanded to the AO for re-examination and reassessment, emphasizing the importance of substantiating expenditures with evidence and verifying transactions involving accommodation entries. The revenue's appeal was treated as allowed for statistical purposes. en-us Wed, 13 Feb 2019 00:00:00 +0530 Wed, 20 Feb 2019 06:37:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375507 The Tribunal set aside the deletion of an addition made under various sections of the IT Act for unexplained expenditure related to business transactions. It found that the CIT(A) erred in not considering the revenue's arguments and the lack of evidence supporting the claimed expenditure. The case was remanded to the AO for re-examination and reassessment, emphasizing the importance of substantiating expenditures with evidence and verifying transactions involving accommodation entries. The revenue's appeal was treated as allowed for statistical purposes. Case-Laws Income Tax Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375507