https://www.taxtmi.com/caselaws?id=430303 The tribunal upheld the CIT(A)'s decision and dismissed the appeal of the assessee concerning the disallowance of expenses under Section 57(iii), the business loss claim, and the treatment of a personal loan as income from other sources. The tribunal found that the expenses were not related to the income offered, leading to the disallowance being justified. Additionally, since the expenses claimed were not connected to the income, the business loss claim was not allowed. The tribunal agreed that the personal loan should be treated as "income from other sources" due to lack of evidence of repayment. en-us Fri, 11 Nov 2022 00:00:00 +0530 Wed, 16 Nov 2022 08:59:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430303 The tribunal upheld the CIT(A)'s decision and dismissed the appeal of the assessee concerning the disallowance of expenses under Section 57(iii), the business loss claim, and the treatment of a personal loan as income from other sources. The tribunal found that the expenses were not related to the income offered, leading to the disallowance being justified. Additionally, since the expenses claimed were not connected to the income, the business loss claim was not allowed. The tribunal agreed that the personal loan should be treated as "income from other sources" due to lack of evidence of repayment. Case-Laws Income Tax Fri, 11 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430303