https://www.taxtmi.com/caselaws?id=777173 ITAT-Mumbai (AT) partly allowed the appeal. The tribunal upheld the CIT(A)'s acceptance of opening RIL shares and relief on TISCO capital gains, sustained assessment of accrued interest on 13% NLC bonds, and directed recomputation of interest u/s 234B. It deleted or directed deletion of multiple additions: unexplained investments in RIL shares and PSU bonds, bank-draft and seized-shares additions, bill-discounting charges, various unexplained deposits, and validated money-market losses and depreciation on leased plant. Additions relating to Colgate shares and NBS Industries were restored to the AO for verification, and the claim for interest expenditure was remanded for quantification. en-us Tue, 21 Jan 2025 00:00:00 +0530 Tue, 19 Aug 2025 10:52:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777173 ITAT-Mumbai (AT) partly allowed the appeal. The tribunal upheld the CIT(A)'s acceptance of opening RIL shares and relief on TISCO capital gains, sustained assessment of accrued interest on 13% NLC bonds, and directed recomputation of interest u/s 234B. It deleted or directed deletion of multiple additions: unexplained investments in RIL shares and PSU bonds, bank-draft and seized-shares additions, bill-discounting charges, various unexplained deposits, and validated money-market losses and depreciation on leased plant. Additions relating to Colgate shares and NBS Industries were restored to the AO for verification, and the claim for interest expenditure was remanded for quantification. Case-Laws Income Tax Tue, 21 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777173