Unexplained Expenditure justified as Business Promotion Expenses with Relevant Bank Statements: ITAT deletes Addition u/s 69C [Read Order]
Unexplained expenditure was also claimed as business promotion expenses by M/s Spring Travels Pvt. Ltd. and the assessee submitted the copy of bank statement
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) removed the addition under Section 69C of the Income Tax Act, 1961 after justifying unexplained expenditure as business promotion expenses with relevant bank statements. The assessee initially filed their income tax return under Section 139 of the Act on July 31, 2013, declaring…
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