https://www.taxtmi.com/caselaws?id=289716 The Tribunal ruled in favor of the assessee, setting aside the lower authorities' orders and deleting the addition made under Section 69C of the Income-tax Act, 1961. The Tribunal found that the expenditure was recorded in the books of account and sourced from the business income, making the addition unsustainable. Emphasizing the importance of proper record-keeping and disclosure, the Tribunal concluded that the assessee had provided all relevant information for assessment, leading to the deletion of the addition by the Assessing Officer. en-us Tue, 27 Feb 2018 00:00:00 +0530 Mon, 17 Aug 2020 22:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289716 The Tribunal ruled in favor of the assessee, setting aside the lower authorities' orders and deleting the addition made under Section 69C of the Income-tax Act, 1961. The Tribunal found that the expenditure was recorded in the books of account and sourced from the business income, making the addition unsustainable. Emphasizing the importance of proper record-keeping and disclosure, the Tribunal concluded that the assessee had provided all relevant information for assessment, leading to the deletion of the addition by the Assessing Officer. Case-Laws Income Tax Tue, 27 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289716