https://www.taxtmi.com/caselaws?id=284908 The Revenue's appeal was dismissed due to low tax effect below Rs. 10 lakhs. The disallowance of unaccounted expenditure claimed by the assessee was deleted as expenses were noted in seized material. Applicability of Section 40A(3) was rejected as expenses were part of seized material. The interest under Sections 234B and 234C was left for final assessment. The additional ground raised by the assessee regarding a claim of Rs. 52 lakhs was rejected. Overall, the Revenue's appeal was dismissed, and the assessee's appeal was partly allowed with the disallowance of Rs. 35 lakhs being deleted. en-us Thu, 03 Nov 2016 00:00:00 +0530 Tue, 17 Dec 2019 09:39:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284908 The Revenue's appeal was dismissed due to low tax effect below Rs. 10 lakhs. The disallowance of unaccounted expenditure claimed by the assessee was deleted as expenses were noted in seized material. Applicability of Section 40A(3) was rejected as expenses were part of seized material. The interest under Sections 234B and 234C was left for final assessment. The additional ground raised by the assessee regarding a claim of Rs. 52 lakhs was rejected. Overall, the Revenue's appeal was dismissed, and the assessee's appeal was partly allowed with the disallowance of Rs. 35 lakhs being deleted. Case-Laws Income Tax Thu, 03 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284908