https://www.taxtmi.com/caselaws?id=347877 The Tribunal dismissed the revenue's appeal challenging the deletion of an addition under section 68 of the Income Tax Act related to an advance received from a company. The Tribunal partially allowed the assessee's cross objection regarding an unsecured loan and unexplained advance, directing further verification by the Assessing Officer. The penalty appeal by the assessee was allowed for statistical purposes, with the penalty issue to be decided afresh. Overall, the Tribunal comprehensively addressed the issues, considering all arguments and evidence presented by both parties. en-us Mon, 24 Jul 2017 00:00:00 +0530 Wed, 13 Sep 2017 08:17:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347877 The Tribunal dismissed the revenue's appeal challenging the deletion of an addition under section 68 of the Income Tax Act related to an advance received from a company. The Tribunal partially allowed the assessee's cross objection regarding an unsecured loan and unexplained advance, directing further verification by the Assessing Officer. The penalty appeal by the assessee was allowed for statistical purposes, with the penalty issue to be decided afresh. Overall, the Tribunal comprehensively addressed the issues, considering all arguments and evidence presented by both parties. Case-Laws Income Tax Mon, 24 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347877