https://www.taxtmi.com/caselaws?id=391415 The Tribunal upheld the deletion of the addition under section 68 of the Income Tax Act, ruling that the assessee had proven the genuineness of unsecured loans with proper documentation. It also upheld the deletion of interest expenses disallowance under section 36(1)(iii), as the loans were deemed for business purposes. However, the disallowance of foreign travel expenses was reinstated due to insufficient evidence establishing the business purpose. en-us Mon, 20 Jan 2020 00:00:00 +0530 Tue, 28 Jan 2020 10:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391415 The Tribunal upheld the deletion of the addition under section 68 of the Income Tax Act, ruling that the assessee had proven the genuineness of unsecured loans with proper documentation. It also upheld the deletion of interest expenses disallowance under section 36(1)(iii), as the loans were deemed for business purposes. However, the disallowance of foreign travel expenses was reinstated due to insufficient evidence establishing the business purpose. Case-Laws Income Tax Mon, 20 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391415