https://www.taxtmi.com/caselaws?id=343369 The Tribunal concluded that the assessee had adequately proven the genuineness and creditworthiness of transactions with a foreign investor, as evidenced by various documents. The Tribunal allowed additional evidence submitted by the assessee, finding that the CIT(A) had considered its merits. Expenditure disallowed for certain assessment years was upheld or allowed based on the commencement of business. Issues regarding unsecured loans and interest disallowance were remitted back to the AO for further verification. The High Court affirmed the Tribunal's decision, dismissing the appeals and ruling in favor of the assessee. en-us Thu, 15 Dec 2016 00:00:00 +0530 Wed, 24 May 2017 07:04:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343369 The Tribunal concluded that the assessee had adequately proven the genuineness and creditworthiness of transactions with a foreign investor, as evidenced by various documents. The Tribunal allowed additional evidence submitted by the assessee, finding that the CIT(A) had considered its merits. Expenditure disallowed for certain assessment years was upheld or allowed based on the commencement of business. Issues regarding unsecured loans and interest disallowance were remitted back to the AO for further verification. The High Court affirmed the Tribunal's decision, dismissing the appeals and ruling in favor of the assessee. Case-Laws Income Tax Thu, 15 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343369