https://www.taxtmi.com/caselaws?id=215269 The Tribunal partially allowed the appellant's appeal on all three grounds. The addition of Rs.4.20 lakh on account of cash credit and disallowance of interest were directed to be deleted as the Tribunal found the loans to be genuine and the depositors creditworthy. The disallowance of expenses was reduced from 25% to 10%, and the Assessing Officer was instructed to recalculate accordingly. The addition of Rs.73,000 on account of low household withdrawals was reduced to Rs.48,000 based on the family's expenses and standard of living. en-us Thu, 07 Jun 2012 00:00:00 +0530 Thu, 12 Jul 2012 13:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215269 The Tribunal partially allowed the appellant's appeal on all three grounds. The addition of Rs.4.20 lakh on account of cash credit and disallowance of interest were directed to be deleted as the Tribunal found the loans to be genuine and the depositors creditworthy. The disallowance of expenses was reduced from 25% to 10%, and the Assessing Officer was instructed to recalculate accordingly. The addition of Rs.73,000 on account of low household withdrawals was reduced to Rs.48,000 based on the family's expenses and standard of living. Case-Laws Income Tax Thu, 07 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215269