https://www.taxtmi.com/caselaws?id=403789 The Tribunal upheld the Ld. CIT(A)'s decision to delete the disallowance related to unexplained cash credit of Rs. 4,50,00,000 and unexplained interest expenditure of Rs. 74,30,571. The Tribunal found that the AO's reliance on a statement lacking evidentiary value and failure to provide the Inspector's report to the assessee rendered the additions unjustified. All lender companies had responded to notices and provided documentation, establishing the genuineness of the transactions. Consequently, the appeal of the Revenue was dismissed, affirming the deletion of the said additions. en-us Fri, 05 Feb 2021 00:00:00 +0530 Sat, 06 Feb 2021 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403789 The Tribunal upheld the Ld. CIT(A)'s decision to delete the disallowance related to unexplained cash credit of Rs. 4,50,00,000 and unexplained interest expenditure of Rs. 74,30,571. The Tribunal found that the AO's reliance on a statement lacking evidentiary value and failure to provide the Inspector's report to the assessee rendered the additions unjustified. All lender companies had responded to notices and provided documentation, establishing the genuineness of the transactions. Consequently, the appeal of the Revenue was dismissed, affirming the deletion of the said additions. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403789