https://www.taxtmi.com/caselaws?id=422420 The Tribunal partly allowed the appeal, restricting the disallowance under section 14A to Rs.29,711, as no correlation with business was found. The addition under section 68 of Rs.26.74 Lacs was deleted due to genuine loans and cash deposits substantiated by evidence. The enhancement of disallowance under Travelling expenses was limited to 10% for personal elements, resulting in a partial allowance of this ground. The judgment was rendered on 5th May 2022. en-us Thu, 05 May 2022 00:00:00 +0530 Sat, 14 May 2022 08:39:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422420 The Tribunal partly allowed the appeal, restricting the disallowance under section 14A to Rs.29,711, as no correlation with business was found. The addition under section 68 of Rs.26.74 Lacs was deleted due to genuine loans and cash deposits substantiated by evidence. The enhancement of disallowance under Travelling expenses was limited to 10% for personal elements, resulting in a partial allowance of this ground. The judgment was rendered on 5th May 2022. Case-Laws Income Tax Thu, 05 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422420