https://www.taxtmi.com/caselaws?id=430467 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of interest expenditure, finding it was used for business purposes. However, the Tribunal remanded the addition made under section 68 back to the AO for further examination due to insufficient proof of genuineness and creditworthiness of loan creditors. The Revenue's appeal was partly allowed for statistical purposes. en-us Thu, 17 Nov 2022 00:00:00 +0530 Sat, 19 Nov 2022 09:00:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430467 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of interest expenditure, finding it was used for business purposes. However, the Tribunal remanded the addition made under section 68 back to the AO for further examination due to insufficient proof of genuineness and creditworthiness of loan creditors. The Revenue's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Thu, 17 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430467