https://www.taxtmi.com/caselaws?id=304840 The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed. The addition of unexplained cash credit under Section 68 was upheld only for specific creditors where identity and creditworthiness were not proven. The disallowance of interest related to investments in machinery was remitted back to the Assessing Officer for further examination. The ground challenging the disallowance of interest related to amounts given to specific entities was dismissed as not pressed. en-us Fri, 07 Aug 2015 00:00:00 +0530 Mon, 31 Oct 2022 12:26:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304840 The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed. The addition of unexplained cash credit under Section 68 was upheld only for specific creditors where identity and creditworthiness were not proven. The disallowance of interest related to investments in machinery was remitted back to the Assessing Officer for further examination. The ground challenging the disallowance of interest related to amounts given to specific entities was dismissed as not pressed. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304840