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2015 (5) TMI 224 - HC - Income TaxAddition u/son 69/69(C) - ITAT deleted addition as when the assessee did not offer ₹ 43,07,179/- as expenditure and did not claim deduction as expenditure, AO was not justified in invoking Section 69/69C and/or in making the addition as unexplained expenditure - Held that:- The assessee never offered and/or claimed deduction of ₹ 43,07,179/- as expenditure. Therefore, it is rightly observed by the learned Tribunal that there was no question of making any addition under Section 69/69(C) of the Act. Section 69(C) of the Act would be applicable in a case where in any financial year an assessee has incurred any expenditure and he offers no explanation about the source of such expenditure or part thereof, or the explanation, if any, offered by him is not, in the opinion of the Assessing Officer, satisfactory, the amount covered by such expenditure or part thereof, as the case may be, may be deemed to be the income of the assessee for such financial year. Tribunal has rightly held that the Assessing Officer has committed error in making addition of ₹ 43,07,179/- under Section 69/69C of the Act. No substantial question of law - Decided against revenue.
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