https://www.taxtmi.com/caselaws?id=68764 The Tribunal upheld the CIT(A)'s approach regarding the validity and reliance on the special audit report, unexplained cash credits, unexplained deposits, reimbursement of expenses, rent expenses, interest on deposits, interest on funds retained by sister-concern, and telephone expenses. The AO's disallowance of share issue expenses was upheld, treating them as capital expenditure. The appeal and cross-objection were partly allowed for statistical purposes, with various issues remanded for fresh examination by the AO. en-us Tue, 20 May 2003 00:00:00 +0530 Tue, 19 Jun 2012 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68764 The Tribunal upheld the CIT(A)'s approach regarding the validity and reliance on the special audit report, unexplained cash credits, unexplained deposits, reimbursement of expenses, rent expenses, interest on deposits, interest on funds retained by sister-concern, and telephone expenses. The AO's disallowance of share issue expenses was upheld, treating them as capital expenditure. The appeal and cross-objection were partly allowed for statistical purposes, with various issues remanded for fresh examination by the AO. Case-Laws Income Tax Tue, 20 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68764