https://www.taxtmi.com/caselaws?id=345658 The Tribunal upheld the Assessing Officer's decision to treat agricultural income as undisclosed sources due to lack of concrete evidence provided by the appellant. However, the disallowance of interest on a loan was overturned as the Tribunal found sufficient evidence to support its utilization for a partnership business, allowing it as a deductible expense. Regarding disallowance of business expenses, the Tribunal partially allowed the appeal, permitting expenses paid through cheques while disallowing cash expenses due to insufficient substantiation. The appellant's appeal was partly allowed with specific directions on the treatment of business expenses. en-us Thu, 09 Feb 2017 00:00:00 +0530 Mon, 24 Jul 2017 06:42:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345658 The Tribunal upheld the Assessing Officer's decision to treat agricultural income as undisclosed sources due to lack of concrete evidence provided by the appellant. However, the disallowance of interest on a loan was overturned as the Tribunal found sufficient evidence to support its utilization for a partnership business, allowing it as a deductible expense. Regarding disallowance of business expenses, the Tribunal partially allowed the appeal, permitting expenses paid through cheques while disallowing cash expenses due to insufficient substantiation. The appellant's appeal was partly allowed with specific directions on the treatment of business expenses. Case-Laws Income Tax Thu, 09 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345658