https://www.taxtmi.com/caselaws?id=441098 The Tribunal allowed the appeal of the assessee, noting the genuine transactions supported by confirmations and documents. The absence of maintained books of accounts precluded the application of Section 68. The treatment of interest expenses by the Assessing Officer was found flawed, leading to the direction of allowance of interest expenses related to explained deposits while disallowing those linked to unexplained deposits. The appeal was allowed in favor of the assessee. en-us Fri, 07 Jul 2023 00:00:00 +0530 Wed, 02 Aug 2023 10:12:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441098 The Tribunal allowed the appeal of the assessee, noting the genuine transactions supported by confirmations and documents. The absence of maintained books of accounts precluded the application of Section 68. The treatment of interest expenses by the Assessing Officer was found flawed, leading to the direction of allowance of interest expenses related to explained deposits while disallowing those linked to unexplained deposits. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 07 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441098