https://www.taxtmi.com/caselaws?id=760176 ITAT Chennai ruled in favor of the assessee on multiple issues. The tribunal upheld CIT(A)'s deletion of additions relating to share capital increase and unsecured loans, finding them to be satisfactory journal entries. Disallowances of interest expenditure and investment additions were also upheld as deleted by CIT(A) based on AO's remand findings. The tribunal allowed the assessee's appeals regarding service charges, professional fees to chartered accountant, electronic transfer charges for share transfer stamps, and brokerage payments, directing full allowance of these legitimate business expenses. Revenue's appeals were dismissed while assessee's cross-appeals succeeded. en-us Wed, 09 Oct 2024 00:00:00 +0530 Thu, 17 Oct 2024 09:24:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760176 ITAT Chennai ruled in favor of the assessee on multiple issues. The tribunal upheld CIT(A)'s deletion of additions relating to share capital increase and unsecured loans, finding them to be satisfactory journal entries. Disallowances of interest expenditure and investment additions were also upheld as deleted by CIT(A) based on AO's remand findings. The tribunal allowed the assessee's appeals regarding service charges, professional fees to chartered accountant, electronic transfer charges for share transfer stamps, and brokerage payments, directing full allowance of these legitimate business expenses. Revenue's appeals were dismissed while assessee's cross-appeals succeeded. Case-Laws Income Tax Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760176