https://www.taxtmi.com/highlights?id=77757 In the case before ITAT Delhi, the Appellate Tribunal upheld the assessment made by the Assessing Officer (AO) u/s 144 of the Income Tax Act. The additions included depletion in the value of investment, writing off of debit balance, disallowance under section 40(a), and treatment of unsecured loans. The Tribunal noted that the assessee failed to provide any material contradicting the AO's findings. The auditor of the assessee also acknowledged the capital nature of the investment depletion, debit balance, and disallowances. Due to the lack of evidence and failure to confirm unsecured loans, the Tribunal affirmed the AO's findings and dismissed the assessee's appeal. en-us Fri, 24 May 2024 07:06:15 +0530 Fri, 24 May 2024 06:55:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77757 In the case before ITAT Delhi, the Appellate Tribunal upheld the assessment made by the Assessing Officer (AO) u/s 144 of the Income Tax Act. The additions included depletion in the value of investment, writing off of debit balance, disallowance under section 40(a), and treatment of unsecured loans. The Tribunal noted that the assessee failed to provide any material contradicting the AO's findings. The auditor of the assessee also acknowledged the capital nature of the investment depletion, debit balance, and disallowances. Due to the lack of evidence and failure to confirm unsecured loans, the Tribunal affirmed the AO's findings and dismissed the assessee's appeal. Highlights Income Tax Fri, 24 May 2024 07:06:15 +0530 https://www.taxtmi.com/highlights?id=77757