https://www.taxtmi.com/caselaws?id=391073 The Tribunal allowed the appeal, ruling in favor of the assessee. It found the explanation for the income discrepancy plausible, attributing it to adverse developments post-survey. The non-recovery of commission was deemed a deductible business loss related to illegal activities, following precedent cases. Consequently, the addition of Rs. 1,62,00,000 as undisclosed income under Section 68 of the Income Tax Act was deemed unwarranted, leading to its deletion from the total income. en-us Wed, 15 Jan 2020 00:00:00 +0530 Sat, 18 Jan 2020 13:22:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391073 The Tribunal allowed the appeal, ruling in favor of the assessee. It found the explanation for the income discrepancy plausible, attributing it to adverse developments post-survey. The non-recovery of commission was deemed a deductible business loss related to illegal activities, following precedent cases. Consequently, the addition of Rs. 1,62,00,000 as undisclosed income under Section 68 of the Income Tax Act was deemed unwarranted, leading to its deletion from the total income. Case-Laws Income Tax Wed, 15 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391073