https://www.taxtmi.com/caselaws?id=359261 The High Court ruled in favor of the Assessee, a partnership firm, in a tax dispute case. The court found that the additions of Rs. 15,00,000/- as an unexplained unsecured loan and Rs. 18,30,000/- as unexplained expenditure were unjustified. It upheld the decision of the Commissioner of Income Tax (Appeals) and overturned the Tribunal's order, deleting the additions from the Assessee's income for the assessment year 2007-08. The appeal was allowed in favor of the Assessee. en-us Mon, 23 Apr 2018 00:00:00 +0530 Thu, 17 Jan 2019 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359261 The High Court ruled in favor of the Assessee, a partnership firm, in a tax dispute case. The court found that the additions of Rs. 15,00,000/- as an unexplained unsecured loan and Rs. 18,30,000/- as unexplained expenditure were unjustified. It upheld the decision of the Commissioner of Income Tax (Appeals) and overturned the Tribunal's order, deleting the additions from the Assessee's income for the assessment year 2007-08. The appeal was allowed in favor of the Assessee. Case-Laws Income Tax Mon, 23 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359261