https://www.taxtmi.com/caselaws?id=185368 The ITAT upheld the CIT(A)'s decision to delete the addition of interest and unexplained cash credits made by the Assessing Officer. The ITAT found that the borrowed funds were utilized for business purposes and the assessee had provided sufficient evidence to prove the legitimacy of the cash credits. As a result, the Revenue's appeal was dismissed in both issues. en-us Fri, 30 Apr 2010 00:00:00 +0530 Wed, 10 Aug 2016 14:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185368 The ITAT upheld the CIT(A)'s decision to delete the addition of interest and unexplained cash credits made by the Assessing Officer. The ITAT found that the borrowed funds were utilized for business purposes and the assessee had provided sufficient evidence to prove the legitimacy of the cash credits. As a result, the Revenue's appeal was dismissed in both issues. Case-Laws Income Tax Fri, 30 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185368