https://www.taxtmi.com/caselaws?id=429046 The Tribunal ruled in favor of the assessee on the taxability of referral fees, accepting the cash system of accounting for the year of taxation. The addition of unexplained unsecured loan was upheld due to lack of evidence. The revised return of income was accepted as filed within the specified due date. The Tribunal reduced the ad-hoc disallowance of expenses to 10% and dismissed the Revenue's claim of violation of section 269SS. The assessee's appeal was allowed on some grounds, while the cross-objection was dismissed. en-us Thu, 13 Oct 2022 00:00:00 +0530 Sat, 15 Oct 2022 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429046 The Tribunal ruled in favor of the assessee on the taxability of referral fees, accepting the cash system of accounting for the year of taxation. The addition of unexplained unsecured loan was upheld due to lack of evidence. The revised return of income was accepted as filed within the specified due date. The Tribunal reduced the ad-hoc disallowance of expenses to 10% and dismissed the Revenue's claim of violation of section 269SS. The assessee's appeal was allowed on some grounds, while the cross-objection was dismissed. Case-Laws Income Tax Thu, 13 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429046