https://www.taxtmi.com/caselaws?id=770342 The ITAT Delhi allowed the assessee's appeal against estimated additions for undisclosed sales and capital employed. The AO's additions were based solely on a Central Excise show cause notice against third party Trikoot, but the Excise Tribunal had quashed these proceedings. The panchnama from Trikoot's search showed no recovery of hard disk/pen drive that formed the basis of allegations. No adverse material was found during the assessee's premises search, and the AO conducted no independent inquiry. The ITAT also deleted adhoc disallowances from telephone and vehicle expenses, noting that for a professionally managed company, no personal use could be presumed without specific evidence of non-business expenditure. en-us Wed, 07 May 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770342 The ITAT Delhi allowed the assessee's appeal against estimated additions for undisclosed sales and capital employed. The AO's additions were based solely on a Central Excise show cause notice against third party Trikoot, but the Excise Tribunal had quashed these proceedings. The panchnama from Trikoot's search showed no recovery of hard disk/pen drive that formed the basis of allegations. No adverse material was found during the assessee's premises search, and the AO conducted no independent inquiry. The ITAT also deleted adhoc disallowances from telephone and vehicle expenses, noting that for a professionally managed company, no personal use could be presumed without specific evidence of non-business expenditure. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770342