https://www.taxtmi.com/caselaws?id=291917 The Tribunal partly allowed the appeal, ruling in favor of the assessee on the addition of undisclosed income based on unexplained cash credit. The Tribunal found the identity of creditors genuine, directing the deletion of the addition under section 68. However, the disallowance under section 40A(3) of the Act was upheld due to lack of evidence, and the levy of interest under sections 234B & 234C was also upheld based on established precedents. en-us Thu, 29 Sep 2016 00:00:00 +0530 Mon, 30 Nov 2020 19:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291917 The Tribunal partly allowed the appeal, ruling in favor of the assessee on the addition of undisclosed income based on unexplained cash credit. The Tribunal found the identity of creditors genuine, directing the deletion of the addition under section 68. However, the disallowance under section 40A(3) of the Act was upheld due to lack of evidence, and the levy of interest under sections 234B & 234C was also upheld based on established precedents. Case-Laws Income Tax Thu, 29 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291917