https://www.taxtmi.com/caselaws?id=269211 The Tribunal partly allowed the appeal, ruling in favor of the assessee on certain issues. The disallowance of the claim for deduction of the performance bank guarantee was overturned, allowing it as a business expense. The disallowance of expenses was partially upheld due to insufficient evidence. The addition towards unexplained contribution by partners was set aside, directing the AO to reconsider in light of additional evidence provided. The Tribunal clarified that certain external reports had no relevance to the appeal's issues. en-us Wed, 02 Dec 2015 00:00:00 +0530 Thu, 10 Dec 2015 08:25:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269211 The Tribunal partly allowed the appeal, ruling in favor of the assessee on certain issues. The disallowance of the claim for deduction of the performance bank guarantee was overturned, allowing it as a business expense. The disallowance of expenses was partially upheld due to insufficient evidence. The addition towards unexplained contribution by partners was set aside, directing the AO to reconsider in light of additional evidence provided. The Tribunal clarified that certain external reports had no relevance to the appeal's issues. Case-Laws Income Tax Wed, 02 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269211