https://www.taxtmi.com/caselaws?id=385986 The Tribunal upheld the CIT(A)'s decision to delete additions under section 68 of the IT Act, as the assessee provided sufficient evidence to establish the genuineness of transactions. The Tribunal dismissed the Revenue's appeal on grounds of disallowance of interest under section 36(1)(iii) and related to unsecured loans, as no such additions were made during assessment proceedings. Additionally, the Tribunal upheld the CIT(A)'s directive to restrict disallowance under section 14A of the IT Act to investments yielding exempt income. The Tribunal emphasized the importance of evidence and natural justice in tax assessments, ultimately ruling in favor of the assessee. en-us Thu, 11 Jul 2019 00:00:00 +0530 Thu, 19 Sep 2019 13:04:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385986 The Tribunal upheld the CIT(A)'s decision to delete additions under section 68 of the IT Act, as the assessee provided sufficient evidence to establish the genuineness of transactions. The Tribunal dismissed the Revenue's appeal on grounds of disallowance of interest under section 36(1)(iii) and related to unsecured loans, as no such additions were made during assessment proceedings. Additionally, the Tribunal upheld the CIT(A)'s directive to restrict disallowance under section 14A of the IT Act to investments yielding exempt income. The Tribunal emphasized the importance of evidence and natural justice in tax assessments, ultimately ruling in favor of the assessee. Case-Laws Income Tax Thu, 11 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385986