https://www.taxtmi.com/caselaws?id=177630 The Tribunal partly allowed the appeal, ruling in favor of the assessee on issues concerning unexplained cash credits and disallowance of interest on those credits. The Tribunal found the Assessing Officer's failure to conduct a mandatory enquiry into the cash credits unsustainable, leading to the acceptance of the assessee's evidence. Additionally, the Tribunal upheld the CIT(A)'s directions on verifying and restricting the disallowance of interest on loans from previous years. However, the Tribunal rejected the assessee's ground related to the disallowance of loans from earlier years. en-us Wed, 06 Mar 2002 00:00:00 +0530 Wed, 13 Jan 2016 18:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177630 The Tribunal partly allowed the appeal, ruling in favor of the assessee on issues concerning unexplained cash credits and disallowance of interest on those credits. The Tribunal found the Assessing Officer's failure to conduct a mandatory enquiry into the cash credits unsustainable, leading to the acceptance of the assessee's evidence. Additionally, the Tribunal upheld the CIT(A)'s directions on verifying and restricting the disallowance of interest on loans from previous years. However, the Tribunal rejected the assessee's ground related to the disallowance of loans from earlier years. Case-Laws Income Tax Wed, 06 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177630