https://www.taxtmi.com/caselaws?id=57324 The court upheld the addition of Rs. 4,22,300 related to 35 deposits as the assessee failed to prove their source and genuineness. The disallowance of interest on these deposits was also upheld. An addition of Rs. 60,000 on an unexplained credit was sustained pending further verification. The disallowance of Rs. 10,579 towards business promotion expenses was partially allowed, with the court directing a re-computation. The court instructed the Assessing Officer to re-examine specific deposits and related interest disallowances, as well as to adjust the disallowance of business promotion expenses. en-us Wed, 13 Jul 2005 00:00:00 +0530 Sat, 07 Jul 2012 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57324 The court upheld the addition of Rs. 4,22,300 related to 35 deposits as the assessee failed to prove their source and genuineness. The disallowance of interest on these deposits was also upheld. An addition of Rs. 60,000 on an unexplained credit was sustained pending further verification. The disallowance of Rs. 10,579 towards business promotion expenses was partially allowed, with the court directing a re-computation. The court instructed the Assessing Officer to re-examine specific deposits and related interest disallowances, as well as to adjust the disallowance of business promotion expenses. Case-Laws Income Tax Wed, 13 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57324