https://www.taxtmi.com/caselaws?id=64770 The Tribunal held that the assessee successfully proved the legitimacy of cash credits under Section 68 of the Income Tax Act by providing adequate documentary evidence. The Tribunal criticized the Assessing Officer's insistence on the physical presence of creditors as unjustified and found no basis for the addition under Section 69 regarding unrecorded investments. Consequently, the Tribunal ruled in favor of the assessee, deleting the addition of Rs. 9,88,351 and allowing the appeal. en-us Fri, 24 Jun 1994 00:00:00 +0530 Wed, 09 Feb 2011 17:15:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64770 The Tribunal held that the assessee successfully proved the legitimacy of cash credits under Section 68 of the Income Tax Act by providing adequate documentary evidence. The Tribunal criticized the Assessing Officer's insistence on the physical presence of creditors as unjustified and found no basis for the addition under Section 69 regarding unrecorded investments. Consequently, the Tribunal ruled in favor of the assessee, deleting the addition of Rs. 9,88,351 and allowing the appeal. Case-Laws Income Tax Fri, 24 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64770