https://www.taxtmi.com/highlights?id=76506 Assessment u/s 153A - The ITAT Mumbai's rulings reaffirm the principle that the additions under Sections 68, 69C, and disallowances under Section 14A require a concrete basis either in the form of incriminating materials found during the search or through clear evidence of unexplained cash credits or expenditures. Moreover, it highlighted the necessity for the Revenue to establish the lack of genuineness or creditworthiness beyond mere suspicions or procedural oversights en-us Wed, 10 Apr 2024 08:43:52 +0530 Wed, 10 Apr 2024 08:43:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76506 Assessment u/s 153A - The ITAT Mumbai's rulings reaffirm the principle that the additions under Sections 68, 69C, and disallowances under Section 14A require a concrete basis either in the form of incriminating materials found during the search or through clear evidence of unexplained cash credits or expenditures. Moreover, it highlighted the necessity for the Revenue to establish the lack of genuineness or creditworthiness beyond mere suspicions or procedural oversights Highlights Income Tax Wed, 10 Apr 2024 08:43:52 +0530 https://www.taxtmi.com/highlights?id=76506