https://www.taxtmi.com/caselaws?id=68005 The ITAT partly allowed the appeal of the assessee, making adjustments and additions based on the valuation of closing stock, genuineness of cash credits, disallowance of interest on cash credits, addition for low withdrawals and household expenses, and charging of interest under sections 215 and 139(8). The ITAT sustained an addition of Rs. 50,000 for the valuation of closing stock, directed examination of individuals for cash credits, disallowed interest, reduced the addition for low withdrawals and household expenses to Rs. 10,000, and ordered the charging of interest under sections 215 and 139(8) as per its order. Additional grounds raised by the assessee were also addressed with no further merit found. en-us Tue, 17 Jul 1990 00:00:00 +0530 Wed, 16 Mar 2011 12:51:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68005 The ITAT partly allowed the appeal of the assessee, making adjustments and additions based on the valuation of closing stock, genuineness of cash credits, disallowance of interest on cash credits, addition for low withdrawals and household expenses, and charging of interest under sections 215 and 139(8). The ITAT sustained an addition of Rs. 50,000 for the valuation of closing stock, directed examination of individuals for cash credits, disallowed interest, reduced the addition for low withdrawals and household expenses to Rs. 10,000, and ordered the charging of interest under sections 215 and 139(8) as per its order. Additional grounds raised by the assessee were also addressed with no further merit found. Case-Laws Income Tax Tue, 17 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68005