TMI Blog2007 (7) TMI 281X X X X Extracts X X X X X X X X Extracts X X X X ..... essee - Since a part of the expenditure related to advertisements in newspapers, it could have been easily verified by the Assessing Officer, but he did not do so– additions not justified - No substantial question of law arises – revenue’s appeal dismissed - 86 of 2007 - - - Dated:- 12-7-2007 - MADAN B. LOKUR and V. B. GUPTA JJ. R. D. Jolly for the appellant. None appeared for the resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urce of the amount. In response, the assessee denied having incurred the expenditure. It was submitted by the assessee that it did not have the amount of money reflected in those two sheets and was incapable of spending the amount, that is, Rs. 29,51,278 which was mentioned in the documents. The Assessing Officer was not satisfied with the explanation and therefore added back the amount to the inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 : Provided that notwithstanding anything contained in any other provision of this Act, such unexplained expenditure which is deemed to be the income of the assessee shall not be allowed as a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dvertisements in newspapers, it could have been easily verified by the Assessing Officer, but he did not do so. 8. We find no fault in the view taken by the Tribunal since there is nothing on record to show that the expenditure was actually incurred by the assessee nor did the Assessing Officer take any action to find out whether the expenditure was actually incurred or not. 9. No substant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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