https://www.taxtmi.com/caselaws?id=768749 ITAT Hyderabad ruled in favor of the assessee on two key issues. First, regarding disallowance of expenditure against unaccounted cash receipts from sale of spent solvents/scrap, the Tribunal directed the AO to allow 60% of receipts as expenditure and sustain only 40% addition, following precedent from assessee's own case for A.Y. 2018-19 and MSN Pharmachem Private Limited. Second, on deemed dividend addition under section 2(22)(e), the Tribunal upheld CIT(A)'s order directing deletion of the addition, dismissing Revenue's appeal on this ground. en-us Tue, 04 Feb 2025 00:00:00 +0530 Sat, 12 Apr 2025 14:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768749 ITAT Hyderabad ruled in favor of the assessee on two key issues. First, regarding disallowance of expenditure against unaccounted cash receipts from sale of spent solvents/scrap, the Tribunal directed the AO to allow 60% of receipts as expenditure and sustain only 40% addition, following precedent from assessee's own case for A.Y. 2018-19 and MSN Pharmachem Private Limited. Second, on deemed dividend addition under section 2(22)(e), the Tribunal upheld CIT(A)'s order directing deletion of the addition, dismissing Revenue's appeal on this ground. Case-Laws Income Tax Tue, 04 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768749