https://www.taxtmi.com/caselaws?id=66565 The Tribunal upheld the addition of Rs. 14,12,081 as income from undisclosed sources for a registered firm engaged in manufacturing and sale of MS rounds and scrap. The deletion of this amount by the CIT(Appeals) was overturned as the assessee failed to prove the creditworthiness and genuineness of the transactions. Additionally, the disallowance of Rs. 52,167 paid to an employee for expenses at Vizag Shipyard was upheld, as the nature of expenses was not substantiated. The Tribunal ruled in favor of the revenue, reversing the decisions of the CIT(Appeals) on both issues. en-us Fri, 31 Mar 1995 00:00:00 +0530 Mon, 28 Feb 2011 12:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66565 The Tribunal upheld the addition of Rs. 14,12,081 as income from undisclosed sources for a registered firm engaged in manufacturing and sale of MS rounds and scrap. The deletion of this amount by the CIT(Appeals) was overturned as the assessee failed to prove the creditworthiness and genuineness of the transactions. Additionally, the disallowance of Rs. 52,167 paid to an employee for expenses at Vizag Shipyard was upheld, as the nature of expenses was not substantiated. The Tribunal ruled in favor of the revenue, reversing the decisions of the CIT(Appeals) on both issues. Case-Laws Income Tax Fri, 31 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66565