https://www.taxtmi.com/caselaws?id=462585 ITAT Mumbai held that assessment u/s 153A cannot disturb finalized assessments unless incriminating material establishes contrary facts. Following Bombay HC precedent, additions were deleted as no incriminating material was found during search. Regarding house property income, municipal taxes borne by tenants need not be deducted from annual letting value. Legal expenses and foreign travel expenses were allowed based on business necessity and previous years' precedent. Commission expenses were allowed proportionate to service charges earned. Addition for bogus purchases was deleted to avoid double taxation, as was addition u/s 69C lacking evidence. Disallowance u/s 14A was deleted due to AO's failure to record mandatory satisfaction before applying Rule 8D. en-us Wed, 19 Aug 2015 00:00:00 +0530 Wed, 02 Jul 2025 19:03:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462585 ITAT Mumbai held that assessment u/s 153A cannot disturb finalized assessments unless incriminating material establishes contrary facts. Following Bombay HC precedent, additions were deleted as no incriminating material was found during search. Regarding house property income, municipal taxes borne by tenants need not be deducted from annual letting value. Legal expenses and foreign travel expenses were allowed based on business necessity and previous years' precedent. Commission expenses were allowed proportionate to service charges earned. Addition for bogus purchases was deleted to avoid double taxation, as was addition u/s 69C lacking evidence. Disallowance u/s 14A was deleted due to AO's failure to record mandatory satisfaction before applying Rule 8D. Case-Laws Income Tax Wed, 19 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462585