https://www.taxtmi.com/caselaws?id=185411 The appeal filed by the assessee was allowed for statistical purposes, while the appeal filed by the Revenue was also allowed for statistical purposes. The addition of unexplained credit under section 68 of the Income Tax Act was partially confirmed, with one lender's addition upheld due to lack of satisfactory explanation. The disallowance of proportionate interest on loans was deemed unjustified as the amount in question was confirmed to be advance income tax and TDS. An error in the CIT(A)'s order prompted a reevaluation by the Assessing Officer. en-us Wed, 30 Dec 2009 00:00:00 +0530 Thu, 11 Aug 2016 17:59:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185411 The appeal filed by the assessee was allowed for statistical purposes, while the appeal filed by the Revenue was also allowed for statistical purposes. The addition of unexplained credit under section 68 of the Income Tax Act was partially confirmed, with one lender's addition upheld due to lack of satisfactory explanation. The disallowance of proportionate interest on loans was deemed unjustified as the amount in question was confirmed to be advance income tax and TDS. An error in the CIT(A)'s order prompted a reevaluation by the Assessing Officer. Case-Laws Income Tax Wed, 30 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185411