https://www.taxtmi.com/caselaws?id=281779 The appeal involved issues of addition of unexplained cash credit under section 68 of the Income-tax Act, advance on account of amusement tax, and charging of interest under sections 234B and 234C. The Tribunal allowed the appeal in part, ruling that trade advances cannot be treated as cash credit under section 68. The addition of advance on account of amusement tax was upheld as the assessee failed to prove its nature. The Tribunal directed the AO to recalculate interest under sections 234B and 234C. The appeal was partially allowed with the order pronounced on 06.02.2015. en-us Fri, 06 Feb 2015 00:00:00 +0530 Sat, 06 Jul 2019 10:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281779 The appeal involved issues of addition of unexplained cash credit under section 68 of the Income-tax Act, advance on account of amusement tax, and charging of interest under sections 234B and 234C. The Tribunal allowed the appeal in part, ruling that trade advances cannot be treated as cash credit under section 68. The addition of advance on account of amusement tax was upheld as the assessee failed to prove its nature. The Tribunal directed the AO to recalculate interest under sections 234B and 234C. The appeal was partially allowed with the order pronounced on 06.02.2015. Case-Laws Income Tax Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281779