https://www.taxtmi.com/caselaws?id=359572 The Tribunal dismissed the appeals of both the revenue and the assessee, upholding the CIT(A)'s decisions. The unexplained cash credits were confirmed due to insufficient evidence of legitimate sources. Interest on partners' capital accounts was disallowed except on the opening balance, as genuine sources for the capital were not established. Expenditure on trailers and vans was partially disallowed, and depreciation on a trailer was restricted to 50% due to lack of evidence. en-us Wed, 25 Apr 2018 00:00:00 +0530 Wed, 02 May 2018 06:24:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359572 The Tribunal dismissed the appeals of both the revenue and the assessee, upholding the CIT(A)'s decisions. The unexplained cash credits were confirmed due to insufficient evidence of legitimate sources. Interest on partners' capital accounts was disallowed except on the opening balance, as genuine sources for the capital were not established. Expenditure on trailers and vans was partially disallowed, and depreciation on a trailer was restricted to 50% due to lack of evidence. Case-Laws Income Tax Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359572