https://www.taxtmi.com/caselaws?id=457123 ITAT Surat upheld CIT(A)'s order deleting additions under section 69A, finding undisclosed income from survey proceedings constituted business income following Gujarat HC precedent. The tribunal dismissed Revenue's appeal against deletion of ad-hoc expense disallowances, ruling AO acted arbitrarily without rejecting books of accounts under section 144. Addition for unrecorded purchases was properly deleted as items were included in physical stock during survey. Disallowance under section 14A was deleted following Suzlon Energy precedent regarding interest-free funds. However, delayed PF/ESI contributions were disallowed following Gujarat State Road Transport Corporation judgment requiring timely crediting to employee accounts. en-us Thu, 27 Jan 2022 00:00:00 +0530 Fri, 06 Sep 2024 20:52:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457123 ITAT Surat upheld CIT(A)'s order deleting additions under section 69A, finding undisclosed income from survey proceedings constituted business income following Gujarat HC precedent. The tribunal dismissed Revenue's appeal against deletion of ad-hoc expense disallowances, ruling AO acted arbitrarily without rejecting books of accounts under section 144. Addition for unrecorded purchases was properly deleted as items were included in physical stock during survey. Disallowance under section 14A was deleted following Suzlon Energy precedent regarding interest-free funds. However, delayed PF/ESI contributions were disallowed following Gujarat State Road Transport Corporation judgment requiring timely crediting to employee accounts. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457123