https://www.taxtmi.com/caselaws?id=765844 The ITAT Mumbai allowed the assessee's appeal regarding addition under section 69C for unexplained expenditure. The tribunal found that the amount was received during the relevant year and recorded in books of account, for which CIT(A) had granted partial relief. Since lower authorities failed to provide cogent reasons for confirming the balance amount and lacked basis for the addition, ITAT directed complete deletion of the addition. The tribunal also upheld CIT(A)'s deletion of protective addition, referencing precedent from Vardha Enterprises case where substantive additions were already identified. en-us Thu, 19 Dec 2024 00:00:00 +0530 Fri, 07 Feb 2025 12:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765844 The ITAT Mumbai allowed the assessee's appeal regarding addition under section 69C for unexplained expenditure. The tribunal found that the amount was received during the relevant year and recorded in books of account, for which CIT(A) had granted partial relief. Since lower authorities failed to provide cogent reasons for confirming the balance amount and lacked basis for the addition, ITAT directed complete deletion of the addition. The tribunal also upheld CIT(A)'s deletion of protective addition, referencing precedent from Vardha Enterprises case where substantive additions were already identified. Case-Laws Income Tax Thu, 19 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765844