https://www.taxtmi.com/caselaws?id=405993 Additions for unexplained cash deposits and unexplained expenditure under Sections 68 and 69C require proper reconciliation of cash balance, cash in hand and related investments; where the lower authorities have not fully examined the accounting materials, fresh adjudication is warranted. Disallowance of depreciation on motor vehicles cannot be sustained in full merely on a possible inference of personal use, especially where no fresh asset was added to the block during the year, and any restriction must rest on a supportable factual basis. Disallowance of director's remuneration under Section 40A(2) must likewise be justified by evidence of excessiveness or unreasonableness; business contribution by the director may support allowance of the payment. en-us Wed, 24 Mar 2021 00:00:00 +0530 Sat, 03 Apr 2021 08:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405993 Additions for unexplained cash deposits and unexplained expenditure under Sections 68 and 69C require proper reconciliation of cash balance, cash in hand and related investments; where the lower authorities have not fully examined the accounting materials, fresh adjudication is warranted. Disallowance of depreciation on motor vehicles cannot be sustained in full merely on a possible inference of personal use, especially where no fresh asset was added to the block during the year, and any restriction must rest on a supportable factual basis. Disallowance of director's remuneration under Section 40A(2) must likewise be justified by evidence of excessiveness or unreasonableness; business contribution by the director may support allowance of the payment. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405993