https://www.taxtmi.com/caselaws?id=413223 The Income Tax Appellate Tribunal (ITAT) allowed the appeal for statistical purposes, remitting both issues back to the Assessing Officer (AO) for further verification and appropriate action in accordance with the law. The first issue regarding the addition of the opening cash balance was remitted to verify the genuineness of the transaction, as the source of the balance was shown to be through banking channels. The second issue concerning the disallowance of interest expenses was also sent back for verification of the details and genuineness of the interest paid, granting the appellant an opportunity to present relevant documents. en-us Tue, 28 Sep 2021 00:00:00 +0530 Thu, 07 Oct 2021 09:15:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413223 The Income Tax Appellate Tribunal (ITAT) allowed the appeal for statistical purposes, remitting both issues back to the Assessing Officer (AO) for further verification and appropriate action in accordance with the law. The first issue regarding the addition of the opening cash balance was remitted to verify the genuineness of the transaction, as the source of the balance was shown to be through banking channels. The second issue concerning the disallowance of interest expenses was also sent back for verification of the details and genuineness of the interest paid, granting the appellant an opportunity to present relevant documents. Case-Laws Income Tax Tue, 28 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413223