https://www.taxtmi.com/caselaws?id=468839 A security deposit received through banking channels and supported by confirmation, ledger extracts and bank entries was not treated as unexplained credit under section 68. A broad disallowance of business expenditure for want of vouchers was partly sustained only for unsupported business promotion , while bank interest and electricity charges were accepted and no tax deduction at source was required on interest paid to a bank under section 194A. Disallowance under section 14A read with Rule 8D was deleted because no exempt income arose during the year. Penalty under section 271(1)(c) could not survive after deletion of the foundational quantum addition. en-us Tue, 11 Feb 2025 00:00:00 +0530 Thu, 21 May 2026 12:53:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468839 A security deposit received through banking channels and supported by confirmation, ledger extracts and bank entries was not treated as unexplained credit under section 68. A broad disallowance of business expenditure for want of vouchers was partly sustained only for unsupported business promotion , while bank interest and electricity charges were accepted and no tax deduction at source was required on interest paid to a bank under section 194A. Disallowance under section 14A read with Rule 8D was deleted because no exempt income arose during the year. Penalty under section 271(1)(c) could not survive after deletion of the foundational quantum addition. Case-Laws Income Tax Tue, 11 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468839