https://www.taxtmi.com/caselaws?id=184955 The ITAT Mumbai upheld the CIT(A)'s decision in both issues. The ITAT found that the doubts raised by the Assessing Officer regarding unexplained cash credit were unsubstantiated, and the source of funds was adequately explained by the assessee. The ITAT also agreed with the CIT(A) that the pre-operative expenses were revenue in nature and essential for business operations. The Revenue's appeal challenging both additions was dismissed. en-us Wed, 21 Apr 2010 00:00:00 +0530 Thu, 29 Dec 2016 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184955 The ITAT Mumbai upheld the CIT(A)'s decision in both issues. The ITAT found that the doubts raised by the Assessing Officer regarding unexplained cash credit were unsubstantiated, and the source of funds was adequately explained by the assessee. The ITAT also agreed with the CIT(A) that the pre-operative expenses were revenue in nature and essential for business operations. The Revenue's appeal challenging both additions was dismissed. Case-Laws Income Tax Wed, 21 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184955