https://www.taxtmi.com/caselaws?id=221894 The Tribunal upheld the Assessing Officer's addition of Rs.43,70,000 as unexplained cash credit under Section 68 of the Income Tax Act, rejecting the CIT(A)'s decision to reduce the amount. Additionally, the Tribunal sustained the disallowance of Rs.1,82,648 in interest expenses claimed on the alleged bogus loans, as the loans were deemed not genuine. The Tribunal's decision favored the revenue, dismissing the Cross Objections filed by the assessee in support of the CIT(A)'s order. en-us Fri, 15 Feb 2013 00:00:00 +0530 Thu, 04 Apr 2013 21:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221894 The Tribunal upheld the Assessing Officer's addition of Rs.43,70,000 as unexplained cash credit under Section 68 of the Income Tax Act, rejecting the CIT(A)'s decision to reduce the amount. Additionally, the Tribunal sustained the disallowance of Rs.1,82,648 in interest expenses claimed on the alleged bogus loans, as the loans were deemed not genuine. The Tribunal's decision favored the revenue, dismissing the Cross Objections filed by the assessee in support of the CIT(A)'s order. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221894