https://www.taxtmi.com/caselaws?id=380599 The High Court upheld the Tribunal's decisions on both issues in the case. The addition under Section 69B of the Income Tax Act for undisclosed investment was deemed unsubstantiated as the evidence presented by the Assessing Officer was insufficient to prove understatement. The disallowance of interest under Section 36(1)(iii) was upheld due to the assessee's failure to demonstrate the business use of interest-bearing funds. The Court dismissed all appeals, finding no substantial legal questions and confirming the Tribunal's well-supported decisions. en-us Thu, 28 Mar 2019 00:00:00 +0530 Tue, 23 Jul 2019 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380599 The High Court upheld the Tribunal's decisions on both issues in the case. The addition under Section 69B of the Income Tax Act for undisclosed investment was deemed unsubstantiated as the evidence presented by the Assessing Officer was insufficient to prove understatement. The disallowance of interest under Section 36(1)(iii) was upheld due to the assessee's failure to demonstrate the business use of interest-bearing funds. The Court dismissed all appeals, finding no substantial legal questions and confirming the Tribunal's well-supported decisions. Case-Laws Income Tax Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380599