https://www.taxtmi.com/caselaws?id=181202 The case involved issues regarding the application of sec. 145 of the I.T. Act, treatment of cash credits and interest in the name of creditors, and addition u/s. 40A(3) of the I.T. Act. The Tribunal allowed deductions for depreciation and interest paid to third parties, deemed certain cash credits as genuine based on established credibility, and ruled that additional disallowances from claimed expenses are not justified when a net profit rate is already applied. As a result, the appeal was partially allowed in favor of the assessee. en-us Wed, 11 Feb 1998 00:00:00 +0530 Sat, 09 Apr 2016 13:08:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181202 The case involved issues regarding the application of sec. 145 of the I.T. Act, treatment of cash credits and interest in the name of creditors, and addition u/s. 40A(3) of the I.T. Act. The Tribunal allowed deductions for depreciation and interest paid to third parties, deemed certain cash credits as genuine based on established credibility, and ruled that additional disallowances from claimed expenses are not justified when a net profit rate is already applied. As a result, the appeal was partially allowed in favor of the assessee. Case-Laws Income Tax Wed, 11 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181202