https://www.taxtmi.com/caselaws?id=205990 The Tribunal upheld the disallowance of interest paid to Shri Sanjeev Sarin due to the appellant's hybrid accounting system. Accrued interest on a loan to Shri Arun Kumar Jain was added as income. Expenses incurred by the seller for a plot sale were deleted from the appellant's income. An addition for drafts deposited in a bank was upheld, but the AO was directed to verify cash book entries. The estimate of professional income was reduced, and relief was allowed for charging interest under sections 234A, 234B, and 234C. The Tribunal directed verification of cash book funds before considering draft purchases. en-us Tue, 30 Jun 2009 00:00:00 +0530 Wed, 05 Oct 2011 00:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205990 The Tribunal upheld the disallowance of interest paid to Shri Sanjeev Sarin due to the appellant's hybrid accounting system. Accrued interest on a loan to Shri Arun Kumar Jain was added as income. Expenses incurred by the seller for a plot sale were deleted from the appellant's income. An addition for drafts deposited in a bank was upheld, but the AO was directed to verify cash book entries. The estimate of professional income was reduced, and relief was allowed for charging interest under sections 234A, 234B, and 234C. The Tribunal directed verification of cash book funds before considering draft purchases. Case-Laws Income Tax Tue, 30 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205990