https://www.taxtmi.com/caselaws?id=429289 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The additions of Rs. 11,00,00,000/- for undisclosed net income and Rs. 44,80,634/- for interest expenses on unexplained cash credits were deleted by the CIT(A). The Tribunal agreed that the Rs. 11 crores had already been offered to tax, preventing double taxation, and the interest expenses were allowable based on previously confirmed genuine deposits. en-us Wed, 19 Oct 2022 00:00:00 +0530 Fri, 21 Oct 2022 07:27:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429289 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The additions of Rs. 11,00,00,000/- for undisclosed net income and Rs. 44,80,634/- for interest expenses on unexplained cash credits were deleted by the CIT(A). The Tribunal agreed that the Rs. 11 crores had already been offered to tax, preventing double taxation, and the interest expenses were allowable based on previously confirmed genuine deposits. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429289