https://www.taxtmi.com/caselaws?id=244265 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO on account of disallowance of loss on sale of paintings and excess interest paid on unsecured loans. The Tribunal found the transactions genuine, emphasizing the lack of evidence for tax evasion and reasonable interest rates for high-risk unsecured loans. The revenue's appeal was dismissed. en-us Mon, 02 Dec 2013 00:00:00 +0530 Fri, 21 Feb 2014 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244265 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO on account of disallowance of loss on sale of paintings and excess interest paid on unsecured loans. The Tribunal found the transactions genuine, emphasizing the lack of evidence for tax evasion and reasonable interest rates for high-risk unsecured loans. The revenue's appeal was dismissed. Case-Laws Income Tax Mon, 02 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244265