https://www.taxtmi.com/caselaws?id=177754 The Appellate Tribunal ITAT Mumbai pronounced judgment on November 21, 2012, involving taxability of advances, disallowance of interest on loans, adhoc expense disallowance, and addition of unexplained cash credit. The Tribunal directed verification of advances to avoid double taxation, confirmed disallowance of interest on loans, allowed adhoc expense deductions, and upheld addition of unexplained cash credit due to insufficient evidence. The case outcome resulted in specific directions for further examination by the Assessing Officer on the issues raised. en-us Wed, 21 Nov 2012 00:00:00 +0530 Mon, 18 Jan 2016 12:40:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177754 The Appellate Tribunal ITAT Mumbai pronounced judgment on November 21, 2012, involving taxability of advances, disallowance of interest on loans, adhoc expense disallowance, and addition of unexplained cash credit. The Tribunal directed verification of advances to avoid double taxation, confirmed disallowance of interest on loans, allowed adhoc expense deductions, and upheld addition of unexplained cash credit due to insufficient evidence. The case outcome resulted in specific directions for further examination by the Assessing Officer on the issues raised. Case-Laws Income Tax Wed, 21 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177754