https://www.taxtmi.com/caselaws?id=237162 The Tribunal upheld the CIT(A)'s decisions in a tax case, dismissing the Revenue's appeal. The addition of unaccounted cash was deleted based on evidence found during a search operation and corroborative employee statements. The disallowed interest deduction was overturned as the cash balance was deemed necessary for business operations. The disallowed office expenses were restricted to 10% of the total claims, with the Tribunal finding the CIT(A)'s decision reasonable. Consequently, the Revenue's appeal was dismissed, and the assessee's counter-objection was withdrawn and dismissed as well. en-us Thu, 30 Jun 2011 00:00:00 +0530 Fri, 20 Sep 2013 07:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237162 The Tribunal upheld the CIT(A)'s decisions in a tax case, dismissing the Revenue's appeal. The addition of unaccounted cash was deleted based on evidence found during a search operation and corroborative employee statements. The disallowed interest deduction was overturned as the cash balance was deemed necessary for business operations. The disallowed office expenses were restricted to 10% of the total claims, with the Tribunal finding the CIT(A)'s decision reasonable. Consequently, the Revenue's appeal was dismissed, and the assessee's counter-objection was withdrawn and dismissed as well. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237162