https://www.taxtmi.com/caselaws?id=216629 The Revenue's appeals were dismissed regarding the deletion of additions related to unaccounted investments in the factory building, unexplained investment in land purchase, unaccounted cash, household valuables, and household expenses for the relevant assessment year. The CIT(A) and Tribunal decisions favored the assessee, highlighting insufficient evidence and lack of proper investigation by the assessing officer. However, the disallowance of interest expenditure was reversed by the Tribunal due to the absence of a clear link between interest-free advances and interest-bearing loans. The assessee's appeal was partly allowed in this case. en-us Fri, 06 Jul 2012 00:00:00 +0530 Sun, 16 Sep 2012 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216629 The Revenue's appeals were dismissed regarding the deletion of additions related to unaccounted investments in the factory building, unexplained investment in land purchase, unaccounted cash, household valuables, and household expenses for the relevant assessment year. The CIT(A) and Tribunal decisions favored the assessee, highlighting insufficient evidence and lack of proper investigation by the assessing officer. However, the disallowance of interest expenditure was reversed by the Tribunal due to the absence of a clear link between interest-free advances and interest-bearing loans. The assessee's appeal was partly allowed in this case. Case-Laws Income Tax Fri, 06 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216629