https://www.taxtmi.com/caselaws?id=773413 ITAT Cochin held that protective addition under section 68 for cash credits received from Trust Chairman was unsustainable as no substantive assessment existed in Managing Trustee's hands when protective addition was made. Court followed Supreme Court precedent requiring substantive addition before protective addition, not vice versa. Protective addition deleted entirely. Regarding disallowed travel expenses for trustee's training trips, matter remitted to CIT(A)/NFAC for fresh consideration after assessee produces proper evidence and justifies business relevance to trust activities. en-us Thu, 24 Apr 2025 00:00:00 +0530 Mon, 23 Jun 2025 08:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773413 ITAT Cochin held that protective addition under section 68 for cash credits received from Trust Chairman was unsustainable as no substantive assessment existed in Managing Trustee's hands when protective addition was made. Court followed Supreme Court precedent requiring substantive addition before protective addition, not vice versa. Protective addition deleted entirely. Regarding disallowed travel expenses for trustee's training trips, matter remitted to CIT(A)/NFAC for fresh consideration after assessee produces proper evidence and justifies business relevance to trust activities. Case-Laws Income Tax Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773413