https://www.taxtmi.com/caselaws?id=310596 The Tribunal ruled in favor of the assessee, allowing appeals for both assessment years and dismissing the Revenue's appeal for AY 1996-97. It directed the deletion of additions related to estimated on-money, unexplained cash credit, and disallowance of interest on advances to group companies, citing lack of evidence and sufficient own funds. The Tribunal also reversed the disallowance of interest paid to Royal Resorts & Hotels Pvt. Ltd. as a business expenditure. Additions for unaccounted receipts and unexplained share capital were either dismissed or affirmed based on substantive assessments and verified transactions. en-us Fri, 08 Apr 2011 00:00:00 +0530 Thu, 02 Nov 2023 14:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310596 The Tribunal ruled in favor of the assessee, allowing appeals for both assessment years and dismissing the Revenue's appeal for AY 1996-97. It directed the deletion of additions related to estimated on-money, unexplained cash credit, and disallowance of interest on advances to group companies, citing lack of evidence and sufficient own funds. The Tribunal also reversed the disallowance of interest paid to Royal Resorts & Hotels Pvt. Ltd. as a business expenditure. Additions for unaccounted receipts and unexplained share capital were either dismissed or affirmed based on substantive assessments and verified transactions. Case-Laws Income Tax Fri, 08 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310596