https://www.taxtmi.com/caselaws?id=423337 The court held that the benefits arising from the acquisition of shares by the appellant fall under Section 28(iv) of the Income Tax Act as an adventure in the nature of trade. The valuation of properties was upheld with adjustments. The addition of the loan from Dotex as unexplained cash credit was remanded for further examination. Disallowance of interest paid on the loan was set aside for reconsideration. Deduction for assigning the loan from AJL was allowed. Unexplained expenditure addition was deleted. Exemption under Section 11 was denied. The levy of interest under Section 234B was dismissed. The appeal was partly allowed with specific directions for reevaluation and adjustments. en-us Thu, 31 Mar 2022 00:00:00 +0530 Tue, 21 Jul 2026 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423337 The court held that the benefits arising from the acquisition of shares by the appellant fall under Section 28(iv) of the Income Tax Act as an adventure in the nature of trade. The valuation of properties was upheld with adjustments. The addition of the loan from Dotex as unexplained cash credit was remanded for further examination. Disallowance of interest paid on the loan was set aside for reconsideration. Deduction for assigning the loan from AJL was allowed. Unexplained expenditure addition was deleted. Exemption under Section 11 was denied. The levy of interest under Section 234B was dismissed. The appeal was partly allowed with specific directions for reevaluation and adjustments. Case-Laws Income Tax Thu, 31 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423337