https://www.taxtmi.com/caselaws?id=388495 The Tribunal partially allowed appeals challenging various disallowances and additions related to embezzled funds, expenditures, brought forward losses, inflated purchases, and other disallowances. It directed the Assessing Officer to reexamine the issues and make necessary adjustments based on fresh verification and factual assessment. The Tribunal emphasized the need for supporting evidence and nexus with trading activities in determining disallowances. The final decision involved a reexamination of multiple issues by the Assessing Officer, with orders pronounced in September 2019. en-us Fri, 20 Sep 2019 00:00:00 +0530 Sat, 16 Nov 2019 15:26:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388495 The Tribunal partially allowed appeals challenging various disallowances and additions related to embezzled funds, expenditures, brought forward losses, inflated purchases, and other disallowances. It directed the Assessing Officer to reexamine the issues and make necessary adjustments based on fresh verification and factual assessment. The Tribunal emphasized the need for supporting evidence and nexus with trading activities in determining disallowances. The final decision involved a reexamination of multiple issues by the Assessing Officer, with orders pronounced in September 2019. Case-Laws Income Tax Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388495