https://www.taxtmi.com/caselaws?id=303095 The ITAT partly allowed the appeal filed by the assessee. The disallowance of brokerage expenses was deleted, citing a previous decision in the assessee's favor. However, the addition of unexplained cash credits under Section 68 was confirmed due to lack of adequate explanation of the creditors' resources. The disallowance of interest on cash credits was upheld, while the matter of disallowance of interest expenses was remitted for reexamination. The disallowance of excess payment of interest was deleted, and the appeal against the disallowance of certain expenses was dismissed. en-us Mon, 14 Dec 2009 00:00:00 +0530 Mon, 04 Jul 2022 13:12:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303095 The ITAT partly allowed the appeal filed by the assessee. The disallowance of brokerage expenses was deleted, citing a previous decision in the assessee's favor. However, the addition of unexplained cash credits under Section 68 was confirmed due to lack of adequate explanation of the creditors' resources. The disallowance of interest on cash credits was upheld, while the matter of disallowance of interest expenses was remitted for reexamination. The disallowance of excess payment of interest was deleted, and the appeal against the disallowance of certain expenses was dismissed. Case-Laws Income Tax Mon, 14 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303095