https://www.taxtmi.com/caselaws?id=330533 The Tribunal upheld the deletion of Rs. 57,72,733 in unexplained credits, as the Revenue lacked corroborative evidence from M/s Kalra Papers Pvt. Ltd. The disallowance of Rs. 2,65,577 for credit card expenses was upheld due to lack of business purpose proof. However, the addition of Rs. 1,22,985 for un-reconciled purchases was deleted, as differences were attributed to discounts and timing discrepancies. The Tribunal partially allowed the Revenue's appeal, upholding the disallowance of credit card expenses but rejecting additions related to unexplained credits and un-reconciled purchases. The assessee's cross-objection led to the deletion of the entire Rs. 1,22,985 addition. en-us Tue, 14 Jun 2016 00:00:00 +0530 Thu, 28 Jul 2016 17:23:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330533 The Tribunal upheld the deletion of Rs. 57,72,733 in unexplained credits, as the Revenue lacked corroborative evidence from M/s Kalra Papers Pvt. Ltd. The disallowance of Rs. 2,65,577 for credit card expenses was upheld due to lack of business purpose proof. However, the addition of Rs. 1,22,985 for un-reconciled purchases was deleted, as differences were attributed to discounts and timing discrepancies. The Tribunal partially allowed the Revenue's appeal, upholding the disallowance of credit card expenses but rejecting additions related to unexplained credits and un-reconciled purchases. The assessee's cross-objection led to the deletion of the entire Rs. 1,22,985 addition. Case-Laws Income Tax Tue, 14 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330533