https://www.taxtmi.com/caselaws?id=401462 The Tribunal set aside the addition of share application money and unsecured loan amounts as unexplained income under section 68 of the Act, directing the CIT(A) to reevaluate with proper consideration of documentary evidence. The addition of interest on unsecured loans and cash deposited in the bank was also remanded for thorough review due to lack of detailed examination by the authorities. Disallowance under section 14A for not showing expenses related to dividend income was upheld, with the CIT(A) directed to calculate the disallowance under Rule 8D for a fair assessment. en-us Mon, 07 Dec 2020 00:00:00 +0530 Tue, 08 Dec 2020 11:44:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401462 The Tribunal set aside the addition of share application money and unsecured loan amounts as unexplained income under section 68 of the Act, directing the CIT(A) to reevaluate with proper consideration of documentary evidence. The addition of interest on unsecured loans and cash deposited in the bank was also remanded for thorough review due to lack of detailed examination by the authorities. Disallowance under section 14A for not showing expenses related to dividend income was upheld, with the CIT(A) directed to calculate the disallowance under Rule 8D for a fair assessment. Case-Laws Income Tax Mon, 07 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401462