https://www.taxtmi.com/caselaws?id=423182 The tribunal partly allowed the appellant's appeal by upholding the treatment of share capital as unexplained cash credits under section 68 of the Income Tax Act due to discrepancies in financial statements. Disallowance under section 40A(3) was affirmed for certain expenditures, with exceptions for genuine cash payments to directors. The tribunal referred back the depreciation disallowance issue for fresh adjudication, requiring the appellant to provide relevant details. en-us Thu, 12 May 2022 00:00:00 +0530 Tue, 31 May 2022 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423182 The tribunal partly allowed the appellant's appeal by upholding the treatment of share capital as unexplained cash credits under section 68 of the Income Tax Act due to discrepancies in financial statements. Disallowance under section 40A(3) was affirmed for certain expenditures, with exceptions for genuine cash payments to directors. The tribunal referred back the depreciation disallowance issue for fresh adjudication, requiring the appellant to provide relevant details. Case-Laws Income Tax Thu, 12 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423182