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If the unaccounted expenditure so incurred was from the 'on money' received by the assessee, then, the question of making any addition under Section 69C does not arise because the source of the expenditure is duly explained. It is only the 'on money' which can be considered for the purpose of taxation. - HC

Income Tax - If the unaccounted expenditure so incurred was from the on money received by the assessee, then, the question of making any addition under Section 69C does not arise because the source of the expenditure is duly explained. It is only the on money which can be considered for the purpose of taxation. - HC - TMI Updates - Highlights .....

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