https://www.taxtmi.com/caselaws?id=751971 ITAT Mumbai ruled on multiple income estimation issues. For fuel/diesel purchases, the court deleted 10% disallowance sustained by CIT(A), finding no rational basis when complete delivery details were provided and consumption was not doubted. For tyre purchases, 10% disallowance was upheld based on director's admission of bogus purchases during survey and missing delivery details. For unsubstantiated expenses, 10% disallowance was deleted where documentary evidence was adequate despite parties not responding to notices. Share application money additions were largely dismissed, with one matter restored to AO for verification. Depreciation disallowance on vehicle sales was deleted as based on extrapolation without evidence for the relevant year. Bogus loan addition was deleted where identity and genuineness were established. en-us Thu, 25 Apr 2024 00:00:00 +0530 Tue, 30 Apr 2024 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751971 ITAT Mumbai ruled on multiple income estimation issues. For fuel/diesel purchases, the court deleted 10% disallowance sustained by CIT(A), finding no rational basis when complete delivery details were provided and consumption was not doubted. For tyre purchases, 10% disallowance was upheld based on director's admission of bogus purchases during survey and missing delivery details. For unsubstantiated expenses, 10% disallowance was deleted where documentary evidence was adequate despite parties not responding to notices. Share application money additions were largely dismissed, with one matter restored to AO for verification. Depreciation disallowance on vehicle sales was deleted as based on extrapolation without evidence for the relevant year. Bogus loan addition was deleted where identity and genuineness were established. Case-Laws Income Tax Thu, 25 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751971