https://www.taxtmi.com/caselaws?id=777935 ITAT DELHI - AT allowed Revenue's ground under section 13, upholding that the assessee was not entitled to exemption under section 11, but ruled largely for the assessee on other issues: the section 40A(2) disallowance was deleted as payments to a related party were held reasonable; the section 36(1)(iii) disallowance was dismissed since a deposit to a related concern was not shown to be diversion of borrowed funds for non-business purposes; and unexplained cash credits under section 68 were accepted as genuine where lender confirmations, PANs, TDS deduction and cheque evidence were furnished. en-us Wed, 15 Jan 2025 00:00:00 +0530 Mon, 08 Sep 2025 13:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777935 ITAT DELHI - AT allowed Revenue's ground under section 13, upholding that the assessee was not entitled to exemption under section 11, but ruled largely for the assessee on other issues: the section 40A(2) disallowance was deleted as payments to a related party were held reasonable; the section 36(1)(iii) disallowance was dismissed since a deposit to a related concern was not shown to be diversion of borrowed funds for non-business purposes; and unexplained cash credits under section 68 were accepted as genuine where lender confirmations, PANs, TDS deduction and cheque evidence were furnished. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777935