https://www.taxtmi.com/caselaws?id=238948 The ITAT partially allowed the assessee's appeal and partly allowed the Revenue's appeal for statistical purposes. The judgment addressed the issues of addition of professional fees as income, unexplained cash credits for school fees, and deletion of addition on account of interest on loan. The ITAT found the assessee's method of accounting faulty regarding professional fees, confirming the addition. It upheld the addition of unexplained cash credits for school fees due to lack of evidence. However, it dismissed the addition on account of interest on loan, citing lack of material to support the Assessing Officer's claim. en-us Wed, 29 Aug 2012 00:00:00 +0530 Fri, 15 Apr 2016 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238948 The ITAT partially allowed the assessee's appeal and partly allowed the Revenue's appeal for statistical purposes. The judgment addressed the issues of addition of professional fees as income, unexplained cash credits for school fees, and deletion of addition on account of interest on loan. The ITAT found the assessee's method of accounting faulty regarding professional fees, confirming the addition. It upheld the addition of unexplained cash credits for school fees due to lack of evidence. However, it dismissed the addition on account of interest on loan, citing lack of material to support the Assessing Officer's claim. Case-Laws Income Tax Wed, 29 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238948