Assessing Officer Lacks Evidence for Expenses u/s 69C; Additions Based on Assumptions, Not Proof.

Assessing Officer Lacks Evidence for Expenses u/s 69C; Additions Based on Assumptions, Not Proof. https://www.taxtmi.com/highlights?id=58408 Unexplained expenditure u/s 69C - The AO has not brought any evidence on record which can demonstrate that assessee has incurred expenses for development work. - There was no evidence with the AO to prove or even indicate that such amount was spent by assessee on the development of land in concern which was sold. AO made addition purely on surmises and conjecture. - AT en-us Fri, 18 Jun 2021 14:47:10 +0530 Fri, 18 Jun 2021 14:47:10 +0530 TaxTMI RSS Generator Assessing Officer Lacks Evidence for Expenses u/s 69C; Additions Based on Assumptions, Not Proof. https://www.taxtmi.com/highlights?id=58408 Unexplained expenditure u/s 69C - The AO has not brought any evidence on record which can demonstrate that assessee has incurred expenses for development work. - There was no evidence with the AO to prove or even indicate that such amount was spent by assessee on the development of land in concern which was sold. AO made addition purely on surmises and conjecture. - AT Highlights Income Tax Fri, 18 Jun 2021 14:47:10 +0530 https://www.taxtmi.com/highlights?id=58408