https://www.taxtmi.com/caselaws?id=64860 The ITAT ruled in favor of the assessee on all contested issues. It overturned the CIT(A)'s decision regarding the Rs. 10,45,550 addition for processing charges, recognizing the genuineness of the transactions. The ITAT also reversed the disallowance of Rs. 2,49,000 for interest on unsecured loans, determining that sufficient non-interest-bearing funds were available. Furthermore, it allowed deductions for ESI and PF payments made before the return filing deadline. Consequently, the assessee's appeals for the assessment years 2000-01 and 2001-02 were allowed, while the Revenue's appeal for 2000-01 was dismissed. en-us Fri, 23 May 2008 00:00:00 +0530 Mon, 11 Dec 2023 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64860 The ITAT ruled in favor of the assessee on all contested issues. It overturned the CIT(A)'s decision regarding the Rs. 10,45,550 addition for processing charges, recognizing the genuineness of the transactions. The ITAT also reversed the disallowance of Rs. 2,49,000 for interest on unsecured loans, determining that sufficient non-interest-bearing funds were available. Furthermore, it allowed deductions for ESI and PF payments made before the return filing deadline. Consequently, the assessee's appeals for the assessment years 2000-01 and 2001-02 were allowed, while the Revenue's appeal for 2000-01 was dismissed. Case-Laws Income Tax Fri, 23 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64860