https://www.taxtmi.com/caselaws?id=395540 The Tribunal ruled in favor of the appellant, directing the deletion of the disallowance of interest expenses totaling Rs. 53,57,352 and Rs. 1,24,954 under Section 36(1)(iii) of the Income Tax Act. Additionally, the Tribunal ordered a reevaluation of the addition of Rs. 1,00,83,240 under Section 68 of the Act concerning unexplained loans, emphasizing the need for proper documentation and evidentiary support in transactions. The appeal was allowed in part for statistical purposes, highlighting the importance of substantiating financial transactions accurately. en-us Fri, 28 Feb 2020 00:00:00 +0530 Wed, 27 May 2020 11:27:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395540 The Tribunal ruled in favor of the appellant, directing the deletion of the disallowance of interest expenses totaling Rs. 53,57,352 and Rs. 1,24,954 under Section 36(1)(iii) of the Income Tax Act. Additionally, the Tribunal ordered a reevaluation of the addition of Rs. 1,00,83,240 under Section 68 of the Act concerning unexplained loans, emphasizing the need for proper documentation and evidentiary support in transactions. The appeal was allowed in part for statistical purposes, highlighting the importance of substantiating financial transactions accurately. Case-Laws Income Tax Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395540