https://www.taxtmi.com/caselaws?id=67694 The ITAT partially allowed the appeal by directing the deletion of the profit inclusion of another individual, finding the profit rightfully belonged to him. The accrued interest addition was upheld for most debtors but partially deleted for an interest-free loan. The disallowance of entertainment expenditure was mostly sustained, except for a portion estimated as expenditure on employees. en-us Thu, 22 May 1975 00:00:00 +0530 Sat, 12 Mar 2011 14:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67694 The ITAT partially allowed the appeal by directing the deletion of the profit inclusion of another individual, finding the profit rightfully belonged to him. The accrued interest addition was upheld for most debtors but partially deleted for an interest-free loan. The disallowance of entertainment expenditure was mostly sustained, except for a portion estimated as expenditure on employees. Case-Laws Income Tax Thu, 22 May 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67694