https://www.taxtmi.com/caselaws?id=763842 ITAT Ahmedabad rendered a mixed decision on multiple additions. For travel expenses under Section 37, the tribunal allowed 70% as business expenditure while disallowing 30% for personal element due to insufficient documentary evidence proving exclusive business purpose. Addition under Section 68 for unexplained cash credit was confirmed as assessee failed to prove identity, creditworthiness and genuineness of transaction. Disallowance under Section 36(1)(va) for delayed PF/ESIC deposits was upheld following SC precedent in Checkmate Services case. However, addition under Section 36(1)(iii) for interest disallowance was deleted as assessee demonstrated sufficient interest-free funds. Appeal partly allowed. en-us Wed, 11 Dec 2024 00:00:00 +0530 Sat, 28 Dec 2024 20:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763842 ITAT Ahmedabad rendered a mixed decision on multiple additions. For travel expenses under Section 37, the tribunal allowed 70% as business expenditure while disallowing 30% for personal element due to insufficient documentary evidence proving exclusive business purpose. Addition under Section 68 for unexplained cash credit was confirmed as assessee failed to prove identity, creditworthiness and genuineness of transaction. Disallowance under Section 36(1)(va) for delayed PF/ESIC deposits was upheld following SC precedent in Checkmate Services case. However, addition under Section 36(1)(iii) for interest disallowance was deleted as assessee demonstrated sufficient interest-free funds. Appeal partly allowed. Case-Laws Income Tax Wed, 11 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763842