https://www.taxtmi.com/caselaws?id=448671 The ITAT dismissed the Revenue's appeal concerning the addition of interest income as income from other sources and the addition under section 68 of the Income Tax Act. The CIT(A) had previously allowed the assessee's appeal, deleting the interest income addition after verifying business commencement, and removing the section 68 addition after reviewing authenticated documents. The ITAT found no error in the CIT(A)'s findings regarding the genuineness of the transaction and lender's capacity, thus affirming the CIT(A)'s decisions and rendering the cross objections unnecessary. en-us Wed, 17 Jan 2024 00:00:00 +0530 Thu, 25 Jan 2024 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448671 The ITAT dismissed the Revenue's appeal concerning the addition of interest income as income from other sources and the addition under section 68 of the Income Tax Act. The CIT(A) had previously allowed the assessee's appeal, deleting the interest income addition after verifying business commencement, and removing the section 68 addition after reviewing authenticated documents. The ITAT found no error in the CIT(A)'s findings regarding the genuineness of the transaction and lender's capacity, thus affirming the CIT(A)'s decisions and rendering the cross objections unnecessary. Case-Laws Income Tax Wed, 17 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448671