https://www.taxtmi.com/caselaws?id=754362 ITAT Raipur remanded three tax issues to AO for fresh adjudication. For unsubstantiated purchases, addition limited to profit element difference between genuine and bogus purchases. For interest on personal loans claimed as business expense, matter restored after admitting additional evidence showing business utilization. For unsecured loans under section 68, fresh documents including lender confirmations, returns, and bank statements were admitted as additional evidence. AO directed to re-examine all issues with reasonable hearing opportunity. All grounds allowed for statistical purposes. en-us Thu, 11 Jan 2024 00:00:00 +0530 Sat, 22 Jun 2024 08:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754362 ITAT Raipur remanded three tax issues to AO for fresh adjudication. For unsubstantiated purchases, addition limited to profit element difference between genuine and bogus purchases. For interest on personal loans claimed as business expense, matter restored after admitting additional evidence showing business utilization. For unsecured loans under section 68, fresh documents including lender confirmations, returns, and bank statements were admitted as additional evidence. AO directed to re-examine all issues with reasonable hearing opportunity. All grounds allowed for statistical purposes. Case-Laws Income Tax Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754362