https://www.taxtmi.com/caselaws?id=396604 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decisions on all issues. The disallowance of interest under Section 36(1)(iii) was deleted, as the assessee had sufficient self-owned funds. The addition of unexplained investment under Section 69B was invalidated due to lack of corroborative evidence. The Tribunal also justified the delay in pronouncement due to the COVID-19 lockdown, referencing Rule 34(4) of the Income Tax (Appellate Tribunal) Rules, 1962. en-us Tue, 09 Jun 2020 00:00:00 +0530 Fri, 08 Nov 2024 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396604 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decisions on all issues. The disallowance of interest under Section 36(1)(iii) was deleted, as the assessee had sufficient self-owned funds. The addition of unexplained investment under Section 69B was invalidated due to lack of corroborative evidence. The Tribunal also justified the delay in pronouncement due to the COVID-19 lockdown, referencing Rule 34(4) of the Income Tax (Appellate Tribunal) Rules, 1962. Case-Laws Income Tax Tue, 09 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396604