https://www.taxtmi.com/caselaws?id=462389 The ITAT PUNE ruled in favor of the assessee firm regarding addition under section 69C read with section 115BBE. The AO had made additions claiming the assessee failed to prove sources of expenditure declared during survey. The tribunal found merit in the assessee's arguments, noting that revenue failed to rebut that the assessee was never questioned about alleged cash expenditure sources during survey. Following precedent from a coordinate bench decision, the tribunal held that the work-in-progress relating to civil construction should be assessed under normal business head only. The assessee's appeal was allowed. en-us Wed, 31 Jul 2024 00:00:00 +0530 Wed, 18 Jun 2025 19:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462389 The ITAT PUNE ruled in favor of the assessee firm regarding addition under section 69C read with section 115BBE. The AO had made additions claiming the assessee failed to prove sources of expenditure declared during survey. The tribunal found merit in the assessee's arguments, noting that revenue failed to rebut that the assessee was never questioned about alleged cash expenditure sources during survey. Following precedent from a coordinate bench decision, the tribunal held that the work-in-progress relating to civil construction should be assessed under normal business head only. The assessee's appeal was allowed. Case-Laws Income Tax Wed, 31 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462389