https://www.taxtmi.com/caselaws?id=325674 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decisions on both issues. The Tribunal emphasized the lack of significant difference in interest rates between secured and unsecured loans, supporting the deletion of addition under Section 40A(2)(b) of the Income Tax Act. Additionally, the Tribunal noted the adequacy of explanations and evidence provided by the assessee regarding the deletion of additions on expenses under various heads, finding no evidence of non-genuine payments and emphasizing the lack of correlation between increased expenses and sales/production. en-us Fri, 08 Jan 2016 00:00:00 +0530 Sat, 26 Mar 2016 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325674 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decisions on both issues. The Tribunal emphasized the lack of significant difference in interest rates between secured and unsecured loans, supporting the deletion of addition under Section 40A(2)(b) of the Income Tax Act. Additionally, the Tribunal noted the adequacy of explanations and evidence provided by the assessee regarding the deletion of additions on expenses under various heads, finding no evidence of non-genuine payments and emphasizing the lack of correlation between increased expenses and sales/production. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325674