https://www.taxtmi.com/caselaws?id=246997 The ITAT Delhi upheld the CIT(A)'s decisions in multiple appeals, deleting additions related to interest on borrowed capital, absence of incriminating documents during search, and relief based on legitimate expenses despite bogus bill books. The tribunal clarified the nexus between borrowed capital and rental income under section 24 of the Income Tax Act, emphasizing the need for incriminating material for additions under specific sections and the importance of legitimate expenses in compliance with tax laws. en-us Thu, 17 Apr 2014 00:00:00 +0530 Tue, 29 Apr 2014 06:47:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246997 The ITAT Delhi upheld the CIT(A)'s decisions in multiple appeals, deleting additions related to interest on borrowed capital, absence of incriminating documents during search, and relief based on legitimate expenses despite bogus bill books. The tribunal clarified the nexus between borrowed capital and rental income under section 24 of the Income Tax Act, emphasizing the need for incriminating material for additions under specific sections and the importance of legitimate expenses in compliance with tax laws. Case-Laws Income Tax Thu, 17 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246997