https://www.taxtmi.com/caselaws?id=751415 The ITAT Mumbai dismissed the revenue's appeal on three additions. Under section 68, the AO questioned sales to Sangeeta enterprises citing impossible delivery timing over 54 km distance. The tribunal found the distance was miscalculated at 54 km when actual distance was 30 km, and excise records supported genuine transactions. Under section 69C, advertisement expenditure of Rs. 28,222,000 for Santoor product was added as unrecorded. The tribunal deleted this addition noting the expenditure legitimately belonged to the assessee as product owner, and Rs. 229 lakhs related to prior financial year. Under section 69A, unexplained money from loose papers was added. Following precedent in Unicot Food Products case, the tribunal directed verification whether seized documents corresponded to already assessed sales of another entity before making additions. en-us Fri, 12 Apr 2024 00:00:00 +0530 Tue, 16 Apr 2024 07:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751415 The ITAT Mumbai dismissed the revenue's appeal on three additions. Under section 68, the AO questioned sales to Sangeeta enterprises citing impossible delivery timing over 54 km distance. The tribunal found the distance was miscalculated at 54 km when actual distance was 30 km, and excise records supported genuine transactions. Under section 69C, advertisement expenditure of Rs. 28,222,000 for Santoor product was added as unrecorded. The tribunal deleted this addition noting the expenditure legitimately belonged to the assessee as product owner, and Rs. 229 lakhs related to prior financial year. Under section 69A, unexplained money from loose papers was added. Following precedent in Unicot Food Products case, the tribunal directed verification whether seized documents corresponded to already assessed sales of another entity before making additions. Case-Laws Income Tax Fri, 12 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751415