https://www.taxtmi.com/caselaws?id=303123 The Tribunal partly allowed the assessee's appeal, addressing issues related to the addition of unsecured loans, enhancement of addition, disallowance of telephone expenditure, and charging of interest. The Tribunal upheld the addition of unsecured loans under section 68, directed the assessee to produce creditors for statements, and set aside the addition of cash credit for re-adjudication. It reduced the disallowance of telephone expenditure from 20% to one-sixth. The Tribunal also directed the Assessing Officer to re-calculate interest under sections 234B/C/D after income re-determination. en-us Tue, 29 Sep 2015 00:00:00 +0530 Wed, 06 Jul 2022 00:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303123 The Tribunal partly allowed the assessee's appeal, addressing issues related to the addition of unsecured loans, enhancement of addition, disallowance of telephone expenditure, and charging of interest. The Tribunal upheld the addition of unsecured loans under section 68, directed the assessee to produce creditors for statements, and set aside the addition of cash credit for re-adjudication. It reduced the disallowance of telephone expenditure from 20% to one-sixth. The Tribunal also directed the Assessing Officer to re-calculate interest under sections 234B/C/D after income re-determination. Case-Laws Income Tax Tue, 29 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303123