Addition on Unexplained Expenditure of Income not Justifiable when Income is Estimated u/s 44 AD of Income Tax Act: ITAT Deletes Income Tax Addition [Read Order]

By Ipsita Das - On October 8, 2023 6:00 am - 2 mins read
Addition on Unexplained Expenditure of Income not Justifiable when Income is Estimated - Income Tax Act ITAT Deletes Income Tax Addition - TAXSCAN

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that addition under Section 69 of the Income Tax Act was not justifiable when the income was estimated under Section 44 A.D of the Income Tax Act,1961.   The assessee Mahendra Kumar, an individual engaged in the business of distribution and sale of pharmaceuticals and medicines…

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