https://www.taxtmi.com/caselaws?id=310405 The ITAT upheld the AO's additions regarding bogus purchases and unsecured loans, finding the assessee failed to prove the genuineness of transactions. The assessment under Section 153A was deemed valid, and the claim of it being time-barred was dismissed. The disallowance of interest expenses on unsecured loans was upheld. The issue of subcontract expenses was remanded for further verification. The direction for TDS credit was maintained, with cross-objections by the assessee dismissed and the Revenue's appeals partly allowed. en-us Tue, 28 Feb 2023 00:00:00 +0530 Sun, 22 Oct 2023 21:43:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310405 The ITAT upheld the AO's additions regarding bogus purchases and unsecured loans, finding the assessee failed to prove the genuineness of transactions. The assessment under Section 153A was deemed valid, and the claim of it being time-barred was dismissed. The disallowance of interest expenses on unsecured loans was upheld. The issue of subcontract expenses was remanded for further verification. The direction for TDS credit was maintained, with cross-objections by the assessee dismissed and the Revenue's appeals partly allowed. Case-Laws Income Tax Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310405