https://www.taxtmi.com/caselaws?id=313534 The Bombay HC upheld the ITAT's decision to delete the addition of Rs.22,45,06,500, finding insufficient grounds to sustain the addition based on seized documents. Regarding the Section 13(1)(c) violation, the court affirmed that only the income violating the provision forfeits exemption, aligning with Circular No.387, not the entire income. en-us Wed, 24 Nov 2021 00:00:00 +0530 Thu, 06 Feb 2025 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313534 The Bombay HC upheld the ITAT's decision to delete the addition of Rs.22,45,06,500, finding insufficient grounds to sustain the addition based on seized documents. Regarding the Section 13(1)(c) violation, the court affirmed that only the income violating the provision forfeits exemption, aligning with Circular No.387, not the entire income. Case-Laws Income Tax Wed, 24 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313534