https://www.taxtmi.com/caselaws?id=442915 The Tribunal upheld the CIT(A)'s decisions in the case, dismissing the Revenue's appeal. The disallowance of general and traveling expenses was reduced from 20% to 10%, with the Tribunal finding the expenses reasonable and adequately supported. Additionally, the deletion of additions on account of unsecured loans and interest on such loans was upheld, as the loans were deemed genuine with proper documentation and assessments. The Tribunal emphasized the lack of substantiated doubts by the AO and confirmed the genuineness of the expenses and loans presented by the assessee. en-us Tue, 18 Apr 2023 00:00:00 +0530 Wed, 13 Sep 2023 09:14:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442915 The Tribunal upheld the CIT(A)'s decisions in the case, dismissing the Revenue's appeal. The disallowance of general and traveling expenses was reduced from 20% to 10%, with the Tribunal finding the expenses reasonable and adequately supported. Additionally, the deletion of additions on account of unsecured loans and interest on such loans was upheld, as the loans were deemed genuine with proper documentation and assessments. The Tribunal emphasized the lack of substantiated doubts by the AO and confirmed the genuineness of the expenses and loans presented by the assessee. Case-Laws Income Tax Tue, 18 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442915