https://www.taxtmi.com/caselaws?id=327169 The ITAT Kolkata allowed the appeal filed by a private limited company engaged in fabric manufacturing regarding the addition of cash credits under section 68 of the Income Tax Act. The ITAT found that the company had adequately explained sales transactions with supporting documents, leading to the rejection of the AO's addition. Additionally, the ITAT deleted the disallowance of general expenses claimed by the company, stating that the disallowance based on estimation without specific defects was unjustified. en-us Wed, 23 Mar 2016 00:00:00 +0530 Thu, 05 May 2016 00:28:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327169 The ITAT Kolkata allowed the appeal filed by a private limited company engaged in fabric manufacturing regarding the addition of cash credits under section 68 of the Income Tax Act. The ITAT found that the company had adequately explained sales transactions with supporting documents, leading to the rejection of the AO's addition. Additionally, the ITAT deleted the disallowance of general expenses claimed by the company, stating that the disallowance based on estimation without specific defects was unjustified. Case-Laws Income Tax Wed, 23 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327169