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2016 (10) TMI 595 - AT - Income TaxTrading addition - Held that:- It is a settled law that in the absence of any specific finding, the adhoc additions made by the AO cannot be sustained - Decided in favour of assessee. Disallowance of deduction under Chapter VIA / under section 80C on account of LIC premium and the Tuition Fees paid - AO has disallowed the said deduction only on the basis that no documentary evidence in this regard was produced by the assessee - Held that:- The said amounts have been duly paid out from the banking channels and deserve to be allowed, hence delete the addition in dispute - Decided in favour of assessee.
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