TMI Blog2023 (8) TMI 1081X X X X Extracts X X X X X X X X Extracts X X X X ..... in fixed assets and undisclosed expenditure, without any supportive material on record. Tribunal therefore drew inference that Assessee had incurred certain liability which though recorded in the parallel Books of Accounts of the Assessee was not recorded in the regular Audited Books of Account. The Tribunal in this background found that the case of the Assessee was of suppression of liability in the Audited Books of Account vis-a-vis the parallel set of Books of Account and; therefore, it was rightly concluded by the Tribunal that under the law undisclosed investment or undisclosed expenditure can be subject matter of addition either u/s 69 or 69A or 69B or 69C of the IT Act but in the present case the issue is not in regard to undiscl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any proper justification or identifying the circumstance which have hindered the assessee to comply during assessment proceedings, as laid down in Rule 46A of the Income Tax Rules, 1962? 2. Whether, on the facts and circumstances of the case, ITAT has erred in upholding the decision of Ld. CIT(A) by deleting the addition of Rs. 8,98,830/- made by the AO on account of disallowance of expenses u/s 40A(3) of the Act? 3. Whether, on the facts and circumstances of the case, ITAT has erred in upholding the decision of Ld. CIT(A) by deleting the addition of Rs. 10,60,043/- made by the AO on account of disallowance of expenses u/s 40A(3) of the Act? 4. Whether, on the facts and circumstances of the case, ITAT has erred in upholding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore drew inference that Assessee had incurred certain liability which though recorded in the parallel Books of Accounts of the Assessee was not recorded in the regular Audited Books of Account. The Tribunal in this background found that the case of the Assessee was of suppression of liability in the Audited Books of Account vis-a-vis the parallel set of Books of Account and; therefore, it was rightly concluded by the Tribunal that under the law undisclosed investment or undisclosed expenditure can be subject matter of addition either u/s 69 or 69A or 69B or 69C of the IT Act but in the present case the issue is not in regard to undisclosed investment or expenditure but undisclosed liability. Accordingly, the Tribunal held that the findings ..... X X X X Extracts X X X X X X X X Extracts X X X X
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