ITAT Deletes Section 69C Addition as Source of Expenditure Was Fully Explained

Advertisement Baumer Technologies India Pvt. Ltd. Vs DCIT (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, allowed the assessee’s appeal against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2022-23, arising from an assessment completed under Section 143(3) read with Section 144B of the Income-tax Act, 1961. The assessee challenged, among other issues, the addition of Rs.8,77,07,756 as unexplained expenditure under Section 69C in respect of payments made to Associated Enterprises (AEs) towards royalty, commission, and fees for technical servi...