https://www.taxtmi.com/caselaws?id=430912 The Tribunal upheld the CIT(A)'s decision to delete additions made under Sections 40A(3) and 68 of the Income-tax Act. The Revenue's appeal was dismissed in its entirety, with the Tribunal finding no infirmity in the CIT(A)'s order. The Tribunal emphasized that the purchases of agricultural produce fell under the exception provided in Rule 6DD(e), and the unsecured loan was not taken during the relevant assessment year but was carried forward from previous years. The order was pronounced on 28th Nov. 2022. en-us Mon, 28 Nov 2022 00:00:00 +0530 Thu, 01 Dec 2022 07:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430912 The Tribunal upheld the CIT(A)'s decision to delete additions made under Sections 40A(3) and 68 of the Income-tax Act. The Revenue's appeal was dismissed in its entirety, with the Tribunal finding no infirmity in the CIT(A)'s order. The Tribunal emphasized that the purchases of agricultural produce fell under the exception provided in Rule 6DD(e), and the unsecured loan was not taken during the relevant assessment year but was carried forward from previous years. The order was pronounced on 28th Nov. 2022. Case-Laws Income Tax Mon, 28 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430912