https://www.taxtmi.com/highlights?id=77394 Unexplained expenditure u/s 69C - The High Court found that the Assessing Officer's reliance on cumulative figures provided by CBIC, without specifying the individual import entries or bills, was insufficient to justify the addition of unexplained expenditure. Moreover, the lack of specific details hindered the petitioner's ability to reconcile the data and refute the allegation adequately. Therefore, the Court concluded that the assessment order was unsustainable due to the absence of material evidence supporting the addition. en-us Mon, 13 May 2024 18:21:14 +0530 Mon, 13 May 2024 18:21:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77394 Unexplained expenditure u/s 69C - The High Court found that the Assessing Officer's reliance on cumulative figures provided by CBIC, without specifying the individual import entries or bills, was insufficient to justify the addition of unexplained expenditure. Moreover, the lack of specific details hindered the petitioner's ability to reconcile the data and refute the allegation adequately. Therefore, the Court concluded that the assessment order was unsustainable due to the absence of material evidence supporting the addition. Highlights Income Tax Mon, 13 May 2024 18:21:14 +0530 https://www.taxtmi.com/highlights?id=77394