https://www.taxtmi.com/caselaws?id=426775 The tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision in a case involving the deletion of addition on unsecured loan as unexplained cash credit under Section 68. The CIT(A) confirmed some additions and deletions after verifying loan transactions. Additionally, the tribunal supported the CIT(A)'s rulings on the disallowance of interest expenditure, deletion of disallowance of business loss, and restriction of disallowance under Section 14A. The tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order on all issues. en-us Thu, 28 Jul 2022 00:00:00 +0530 Tue, 23 Aug 2022 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426775 The tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision in a case involving the deletion of addition on unsecured loan as unexplained cash credit under Section 68. The CIT(A) confirmed some additions and deletions after verifying loan transactions. Additionally, the tribunal supported the CIT(A)'s rulings on the disallowance of interest expenditure, deletion of disallowance of business loss, and restriction of disallowance under Section 14A. The tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order on all issues. Case-Laws Income Tax Thu, 28 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426775