https://www.taxtmi.com/caselaws?id=196420 The ITAT dismissed the revenue's appeal in all three issues, upholding the decisions of the Ld. CIT(A) in deleting the additions. The additions under sections 2(22)(e) and 68 of the Act were deleted based on evidence showing that the transactions were for business purposes and the creditors were creditworthy, respectively. The expenses for domestic and foreign traveling were also allowed as legitimate business expenses, as supported by the documentation provided by the assessee. en-us Fri, 29 Oct 2010 00:00:00 +0530 Thu, 30 Nov 2017 11:24:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196420 The ITAT dismissed the revenue's appeal in all three issues, upholding the decisions of the Ld. CIT(A) in deleting the additions. The additions under sections 2(22)(e) and 68 of the Act were deleted based on evidence showing that the transactions were for business purposes and the creditors were creditworthy, respectively. The expenses for domestic and foreign traveling were also allowed as legitimate business expenses, as supported by the documentation provided by the assessee. Case-Laws Income Tax Fri, 29 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196420