https://www.taxtmi.com/caselaws?id=400890 The Tribunal dismissed the Revenue's appeals, affirming the CIT(A)'s orders on both issues. The deletion of the addition of unexplained cash credit under Section 68 was upheld due to the assessee's successful demonstration of transaction genuineness through documentation. Similarly, the disallowance of interest expense on unsecured loans was dismissed, as it was deemed consequential to the first issue. The Tribunal emphasized the absence of adverse material and the lack of cross-examination of key individuals, confirming the credibility of the transactions. en-us Fri, 10 Jul 2020 00:00:00 +0530 Mon, 04 Nov 2024 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400890 The Tribunal dismissed the Revenue's appeals, affirming the CIT(A)'s orders on both issues. The deletion of the addition of unexplained cash credit under Section 68 was upheld due to the assessee's successful demonstration of transaction genuineness through documentation. Similarly, the disallowance of interest expense on unsecured loans was dismissed, as it was deemed consequential to the first issue. The Tribunal emphasized the absence of adverse material and the lack of cross-examination of key individuals, confirming the credibility of the transactions. Case-Laws Income Tax Fri, 10 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400890