https://www.taxtmi.com/caselaws?id=351663 The Tribunal allowed the appeal, setting aside the disallowance of expenses and depreciation while remanding the issue of unsecured loans back to the Assessing Officer for further verification and decision. The Tribunal found the expenses genuine and related to business activities, disagreeing with the initial disallowance. Regarding the unsecured loans, the Tribunal noted that the Assessing Officer's inquiry was incomplete and directed a thorough examination, providing the assessee with another opportunity to substantiate the loan transactions. en-us Mon, 30 Oct 2017 00:00:00 +0530 Wed, 29 Nov 2017 07:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351663 The Tribunal allowed the appeal, setting aside the disallowance of expenses and depreciation while remanding the issue of unsecured loans back to the Assessing Officer for further verification and decision. The Tribunal found the expenses genuine and related to business activities, disagreeing with the initial disallowance. Regarding the unsecured loans, the Tribunal noted that the Assessing Officer's inquiry was incomplete and directed a thorough examination, providing the assessee with another opportunity to substantiate the loan transactions. Case-Laws Income Tax Mon, 30 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351663