https://www.taxtmi.com/caselaws?id=353291 The appeals filed by the assessee were allowed by the Tribunal, resulting in the deletion of disallowances and additions made by the AO and upheld by the CIT(A). The Tribunal emphasized the sufficiency of own funds, the absence of exempt income, and the principle that hypothetical income cannot be taxed, leading to the favorable outcome for the assessee in both issues raised. en-us Wed, 27 Dec 2017 00:00:00 +0530 Sun, 31 Dec 2017 21:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353291 The appeals filed by the assessee were allowed by the Tribunal, resulting in the deletion of disallowances and additions made by the AO and upheld by the CIT(A). The Tribunal emphasized the sufficiency of own funds, the absence of exempt income, and the principle that hypothetical income cannot be taxed, leading to the favorable outcome for the assessee in both issues raised. Case-Laws Income Tax Wed, 27 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353291