https://www.taxtmi.com/caselaws?id=185606 The ITAT partly allowed the appeal by restricting the disallowance of expenses to 10% of unverified expenses and deleting the addition of unexplained share application money under section 68 of the IT Act. The decision was based on errors in the calculation of disallowance and the burden of proof regarding the creditworthiness of shareholders, aligning with legal precedents. en-us Tue, 27 Jul 2010 00:00:00 +0530 Sat, 20 Aug 2016 18:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185606 The ITAT partly allowed the appeal by restricting the disallowance of expenses to 10% of unverified expenses and deleting the addition of unexplained share application money under section 68 of the IT Act. The decision was based on errors in the calculation of disallowance and the burden of proof regarding the creditworthiness of shareholders, aligning with legal precedents. Case-Laws Income Tax Tue, 27 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185606