https://www.taxtmi.com/caselaws?id=758176 ITAT Jaipur dismissed revenue's appeal challenging CIT(A)'s deletion of addition for excessive and bogus expenses. AO had added Rs. 4.12 crore based on impounded documents during survey showing lower expenditure than audited accounts. Tribunal held that mere admission during survey without corroborative evidence cannot establish expenses as bogus. Expenses were supported by banking records, TDS deductions, ledger accounts, and salary sheets. Revenue failed to conduct independent verification or reject books under section 145. Tribunal found no substance in revenue's grounds as assessee provided adequate supporting evidence for claimed expenditure through properly audited accounts. en-us Mon, 05 Aug 2024 00:00:00 +0530 Mon, 03 Feb 2025 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758176 ITAT Jaipur dismissed revenue's appeal challenging CIT(A)'s deletion of addition for excessive and bogus expenses. AO had added Rs. 4.12 crore based on impounded documents during survey showing lower expenditure than audited accounts. Tribunal held that mere admission during survey without corroborative evidence cannot establish expenses as bogus. Expenses were supported by banking records, TDS deductions, ledger accounts, and salary sheets. Revenue failed to conduct independent verification or reject books under section 145. Tribunal found no substance in revenue's grounds as assessee provided adequate supporting evidence for claimed expenditure through properly audited accounts. Case-Laws Income Tax Mon, 05 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758176