https://www.taxtmi.com/caselaws?id=310503 ITAT upheld AO's reopening of assessment u/s 147 based on AIR information revealing cash deposits in assessee's bank account, finding sufficient material to suspect income concealment. However, ITAT allowed assessee's appeal regarding estimated disallowances of car, mobile, travelling expenses, depreciation, and household expenses. Court held AO failed to conduct proper verification through test-checking of bills/vouchers before making ad hoc 15% disallowance treating expenses as personal. Without specific findings or sample evidence of personal expenditure booked as business expenses, disallowances were deemed baseless. Appeal partly allowed. en-us Fri, 27 Apr 2018 00:00:00 +0530 Sat, 28 Oct 2023 08:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310503 ITAT upheld AO's reopening of assessment u/s 147 based on AIR information revealing cash deposits in assessee's bank account, finding sufficient material to suspect income concealment. However, ITAT allowed assessee's appeal regarding estimated disallowances of car, mobile, travelling expenses, depreciation, and household expenses. Court held AO failed to conduct proper verification through test-checking of bills/vouchers before making ad hoc 15% disallowance treating expenses as personal. Without specific findings or sample evidence of personal expenditure booked as business expenses, disallowances were deemed baseless. Appeal partly allowed. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310503