https://www.taxtmi.com/caselaws?id=238243 The ITAT upheld the AO's decision to reduce agricultural income due to lack of evidence. The ITAT remanded the assessment of cash credits back to the AO for re-examination based on new evidence. Disallowance of foreign travel expenses and sales promotion expenses was confirmed as explanations were deemed insufficient. The disallowance of depreciation on vehicles was upheld as exclusive business use was not proven, resulting in a partial allowance of the appeal for statistical purposes. en-us Fri, 11 Oct 2013 00:00:00 +0530 Fri, 18 Oct 2013 22:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238243 The ITAT upheld the AO's decision to reduce agricultural income due to lack of evidence. The ITAT remanded the assessment of cash credits back to the AO for re-examination based on new evidence. Disallowance of foreign travel expenses and sales promotion expenses was confirmed as explanations were deemed insufficient. The disallowance of depreciation on vehicles was upheld as exclusive business use was not proven, resulting in a partial allowance of the appeal for statistical purposes. Case-Laws Income Tax Fri, 11 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238243