https://www.taxtmi.com/caselaws?id=385831 The Tribunal allowed the appeal in part, directing the AO to delete additions under Section 68 of the Income Tax Act as the assessee provided adequate documentation proving the genuineness of transactions involving loans from NRIs. The Tribunal dismissed the appeal regarding bad debts written-off due to lack of supporting evidence. It also ruled in favor of the assessee on sales promotion expenses, vehicle and telephone expenses, and factory and welfare expenses, emphasizing the necessity and business purpose of these expenses. The Tribunal upheld the capital nature of trademark expenses and the disallowance of interest expenses, emphasizing the importance of substantiating claims with documentary evidence. en-us Tue, 01 Jan 2019 00:00:00 +0530 Sat, 14 Sep 2019 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385831 The Tribunal allowed the appeal in part, directing the AO to delete additions under Section 68 of the Income Tax Act as the assessee provided adequate documentation proving the genuineness of transactions involving loans from NRIs. The Tribunal dismissed the appeal regarding bad debts written-off due to lack of supporting evidence. It also ruled in favor of the assessee on sales promotion expenses, vehicle and telephone expenses, and factory and welfare expenses, emphasizing the necessity and business purpose of these expenses. The Tribunal upheld the capital nature of trademark expenses and the disallowance of interest expenses, emphasizing the importance of substantiating claims with documentary evidence. Case-Laws Income Tax Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385831