https://www.taxtmi.com/caselaws?id=56443 The ITAT dismissed the appeal, upholding the CIT(A)'s decisions on both issues. The addition of income transferred without charging interest was deemed unjustified as it involved interest-free loans to family members, not income transfers. The disallowance of claimed salary expenses was overturned, as the expenses were found to be legitimate and incurred for business purposes, contrary to the AO's decision based solely on declared net profit. en-us Tue, 17 Aug 2004 00:00:00 +0530 Fri, 03 Dec 2010 16:43:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56443 The ITAT dismissed the appeal, upholding the CIT(A)'s decisions on both issues. The addition of income transferred without charging interest was deemed unjustified as it involved interest-free loans to family members, not income transfers. The disallowance of claimed salary expenses was overturned, as the expenses were found to be legitimate and incurred for business purposes, contrary to the AO's decision based solely on declared net profit. Case-Laws Income Tax Tue, 17 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56443