https://www.taxtmi.com/caselaws?id=387956 The Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision to enhance income and disallow certain expenses. The Tribunal found that the expenses in question were genuine and allowable for business purposes, deleting the disallowances. The initiation of penalty proceedings was deemed premature, and the levy of interest was upheld as consequential. The Tribunal also supported the CIT(A)'s deletion of additions based on additional evidence. The AO was directed to reconsider certain issues with proper opportunity for the assessee. en-us Thu, 31 Oct 2019 00:00:00 +0530 Mon, 04 Nov 2019 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387956 The Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision to enhance income and disallow certain expenses. The Tribunal found that the expenses in question were genuine and allowable for business purposes, deleting the disallowances. The initiation of penalty proceedings was deemed premature, and the levy of interest was upheld as consequential. The Tribunal also supported the CIT(A)'s deletion of additions based on additional evidence. The AO was directed to reconsider certain issues with proper opportunity for the assessee. Case-Laws Income Tax Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387956