https://www.taxtmi.com/caselaws?id=419853 The tribunal partially allowed the assessee's appeal and dismissed the department's appeal in a tax case. The tribunal adjusted disallowances for various expenses, including bogus purchases, depreciation, petty cash expenses, traveling expenses, and interest expenditure, based on evidence and precedents. The tribunal upheld the deletion of an addition made under Section 68 of the Income Tax Act, ruling in favor of the assessee due to sufficient evidence proving the transactions' genuineness. en-us Wed, 16 Mar 2022 00:00:00 +0530 Mon, 21 Mar 2022 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419853 The tribunal partially allowed the assessee's appeal and dismissed the department's appeal in a tax case. The tribunal adjusted disallowances for various expenses, including bogus purchases, depreciation, petty cash expenses, traveling expenses, and interest expenditure, based on evidence and precedents. The tribunal upheld the deletion of an addition made under Section 68 of the Income Tax Act, ruling in favor of the assessee due to sufficient evidence proving the transactions' genuineness. Case-Laws Income Tax Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419853