https://www.taxtmi.com/caselaws?id=400725 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the disallowance under Section 40A(3) and the addition of unsecured loans under Section 68 of the Income Tax Act, 1961. The decision highlighted the significance of business expediency, genuine transactions, and the requirement for corroborative evidence when applying these sections. The judgment was delivered on 11/11/2020. en-us Wed, 11 Nov 2020 00:00:00 +0530 Tue, 17 Nov 2020 11:20:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400725 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the disallowance under Section 40A(3) and the addition of unsecured loans under Section 68 of the Income Tax Act, 1961. The decision highlighted the significance of business expediency, genuine transactions, and the requirement for corroborative evidence when applying these sections. The judgment was delivered on 11/11/2020. Case-Laws Income Tax Wed, 11 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400725