https://www.taxtmi.com/caselaws?id=439855 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order in favor of the assessee. The disallowance of trading losses, addition under section 68 of the Income Tax Act, and disallowance of interest expenses were all ruled in favor of the assessee. The Tribunal emphasized the lack of specific defects in the trading transactions, the genuineness of the unsecured loans, and the credibility of the interest expenses, ultimately supporting the assessee's position. en-us Wed, 28 Jun 2023 00:00:00 +0530 Tue, 04 Jul 2023 08:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439855 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order in favor of the assessee. The disallowance of trading losses, addition under section 68 of the Income Tax Act, and disallowance of interest expenses were all ruled in favor of the assessee. The Tribunal emphasized the lack of specific defects in the trading transactions, the genuineness of the unsecured loans, and the credibility of the interest expenses, ultimately supporting the assessee's position. Case-Laws Income Tax Wed, 28 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439855