https://www.taxtmi.com/caselaws?id=412908 The Tribunal partly allowed the appeals of the assessee and partly allowed the cross objections. The decisions favored the assessee in most issues, upholding the disallowance of interest expenditure under 'business income' due to no loss of revenue and the deletion of undisclosed income addition for lack of explanation. The Tribunal also upheld the deletion of expenditure disallowance under section 40(a)(ia) and unexplained cash credit addition under section 68. However, one issue was remitted back to the AO for further examination and decision on merits. en-us Thu, 23 Sep 2021 00:00:00 +0530 Wed, 29 Sep 2021 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412908 The Tribunal partly allowed the appeals of the assessee and partly allowed the cross objections. The decisions favored the assessee in most issues, upholding the disallowance of interest expenditure under 'business income' due to no loss of revenue and the deletion of undisclosed income addition for lack of explanation. The Tribunal also upheld the deletion of expenditure disallowance under section 40(a)(ia) and unexplained cash credit addition under section 68. However, one issue was remitted back to the AO for further examination and decision on merits. Case-Laws Income Tax Thu, 23 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412908