https://www.taxtmi.com/caselaws?id=459644 ITAT Raipur dismissed Revenue's appeal across multiple grounds. Regarding bogus LTCG, tribunal held suspicion alone cannot justify additions without material evidence. For unexplained labor expenses, deletion was upheld as books were audited under section 44AB with supporting documentation. Interest addition deletion was confirmed as AO failed establishing nexus between interest-bearing funds and advances. Vehicle expense disallowance was rejected due to lack of basis for adhoc disallowance. Household expense addition deletion was sustained as Revenue couldn't prove actual expenses exceeded claimed amount. en-us Fri, 02 Feb 2018 00:00:00 +0530 Fri, 20 Dec 2024 19:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459644 ITAT Raipur dismissed Revenue's appeal across multiple grounds. Regarding bogus LTCG, tribunal held suspicion alone cannot justify additions without material evidence. For unexplained labor expenses, deletion was upheld as books were audited under section 44AB with supporting documentation. Interest addition deletion was confirmed as AO failed establishing nexus between interest-bearing funds and advances. Vehicle expense disallowance was rejected due to lack of basis for adhoc disallowance. Household expense addition deletion was sustained as Revenue couldn't prove actual expenses exceeded claimed amount. Case-Laws Income Tax Fri, 02 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459644