https://www.taxtmi.com/caselaws?id=267251 The ITAT confirmed the addition of Rs. 3,35,134 for disallowed purchases in the Profit & Loss Account as the assessee failed to prove the expenses were for business purposes. Additionally, the ITAT directed a re-examination by the assessing officer regarding the Rs. 2,14,000 friendly loans from relatives to establish the genuineness of the transactions. en-us Mon, 28 Sep 2015 00:00:00 +0530 Tue, 03 Nov 2015 06:16:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267251 The ITAT confirmed the addition of Rs. 3,35,134 for disallowed purchases in the Profit & Loss Account as the assessee failed to prove the expenses were for business purposes. Additionally, the ITAT directed a re-examination by the assessing officer regarding the Rs. 2,14,000 friendly loans from relatives to establish the genuineness of the transactions. Case-Laws Income Tax Mon, 28 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267251