https://www.taxtmi.com/caselaws?id=192727 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The addition under section 68 was deleted as the trade creditors were reasonable considering business volume, and the expenses disallowed were reduced due to lack of specific evidence for disallowance. The ITAT affirmed that no interference was warranted, as the expenses were not proven to be non-business related and the cash credits did not fall under the definition of unexplained cash credits. en-us Fri, 23 Jul 2010 00:00:00 +0530 Wed, 14 Jun 2017 18:52:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192727 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The addition under section 68 was deleted as the trade creditors were reasonable considering business volume, and the expenses disallowed were reduced due to lack of specific evidence for disallowance. The ITAT affirmed that no interference was warranted, as the expenses were not proven to be non-business related and the cash credits did not fall under the definition of unexplained cash credits. Case-Laws Income Tax Fri, 23 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192727