https://www.taxtmi.com/caselaws?id=340297 The ITAT ruled in favor of the assessee in both issues. The additions towards cash deposits in the bank account for AYs 2006-07 and 2007-08 were deleted as the explanations provided were found satisfactory, with all transactions disclosed in the balance sheet. Additionally, the disallowance of accounting charges under section 40(a)(ia) for AY 2007-08 was overturned as the charges were not considered professional services under section 194J. The ITAT directed the AO to delete the disallowance, resulting in the appeal for AY 2006-07 being partly allowed and the appeal for AY 2007-08 being fully allowed. en-us Wed, 08 Mar 2017 00:00:00 +0530 Mon, 20 Mar 2017 08:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340297 The ITAT ruled in favor of the assessee in both issues. The additions towards cash deposits in the bank account for AYs 2006-07 and 2007-08 were deleted as the explanations provided were found satisfactory, with all transactions disclosed in the balance sheet. Additionally, the disallowance of accounting charges under section 40(a)(ia) for AY 2007-08 was overturned as the charges were not considered professional services under section 194J. The ITAT directed the AO to delete the disallowance, resulting in the appeal for AY 2006-07 being partly allowed and the appeal for AY 2007-08 being fully allowed. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340297