https://www.taxtmi.com/caselaws?id=770163 The ITAT Delhi upheld addition under Section 69C for undisclosed expenditure as figures in seized documents matched the assessee's books and related to ongoing projects. The tribunal confirmed disallowance of depreciation on gym equipment not installed at business premises. However, it dismissed revenue's appeals regarding unaccounted sale consideration, rent disallowance, and foreign travel expenses, finding the CIT(A) correctly deleted these additions based on proper documentation and business justification. The tribunal also upheld deletion of deemed profit addition and advance received addition, ruling these were made on presumption without adequate evidence. en-us Tue, 29 Apr 2025 00:00:00 +0530 Wed, 07 May 2025 09:18:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770163 The ITAT Delhi upheld addition under Section 69C for undisclosed expenditure as figures in seized documents matched the assessee's books and related to ongoing projects. The tribunal confirmed disallowance of depreciation on gym equipment not installed at business premises. However, it dismissed revenue's appeals regarding unaccounted sale consideration, rent disallowance, and foreign travel expenses, finding the CIT(A) correctly deleted these additions based on proper documentation and business justification. The tribunal also upheld deletion of deemed profit addition and advance received addition, ruling these were made on presumption without adequate evidence. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770163