https://www.taxtmi.com/caselaws?id=458857 The ITAT Chennai allowed the assessee's appeal regarding wage and salary provisions, ruling that reversed provisions claimed on actual payment basis in subsequent years should be allowed as deductions to prevent double disallowance. The tribunal found that Rs. 29.53 lacs provision was fully paid through banking channels in April-May 2017. Regarding unexplained investment under Section 69, the ITAT deleted additions based on loose excel sheets found during search, holding these documents lacked sufficient details, signatures, and corroboration to establish undisclosed income, constituting merely "dumb documents" with no evidentiary value. en-us Wed, 09 Oct 2024 00:00:00 +0530 Tue, 19 Nov 2024 12:48:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458857 The ITAT Chennai allowed the assessee's appeal regarding wage and salary provisions, ruling that reversed provisions claimed on actual payment basis in subsequent years should be allowed as deductions to prevent double disallowance. The tribunal found that Rs. 29.53 lacs provision was fully paid through banking channels in April-May 2017. Regarding unexplained investment under Section 69, the ITAT deleted additions based on loose excel sheets found during search, holding these documents lacked sufficient details, signatures, and corroboration to establish undisclosed income, constituting merely "dumb documents" with no evidentiary value. Case-Laws Income Tax Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458857