https://www.taxtmi.com/caselaws?id=462241 Gujarat HC dismissed revenue's appeal regarding three tax additions. On fictitious loss disallowance, the court admitted the question for hearing based on precedent from N K Proteins case. For unexplained expenses via debit notes between sister companies, HC upheld ITAT's deletion since the amount was already taxed in recipient company's hands, avoiding double taxation. For Section 68 addition, HC confirmed ITAT's deletion as the amount was properly carried forward and paid to sister concern in subsequent years, with similar treatment in next assessment year showing consistent factual pattern. en-us Tue, 05 Dec 2023 00:00:00 +0530 Thu, 29 May 2025 15:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462241 Gujarat HC dismissed revenue's appeal regarding three tax additions. On fictitious loss disallowance, the court admitted the question for hearing based on precedent from N K Proteins case. For unexplained expenses via debit notes between sister companies, HC upheld ITAT's deletion since the amount was already taxed in recipient company's hands, avoiding double taxation. For Section 68 addition, HC confirmed ITAT's deletion as the amount was properly carried forward and paid to sister concern in subsequent years, with similar treatment in next assessment year showing consistent factual pattern. Case-Laws Income Tax Tue, 05 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462241