https://www.taxtmi.com/caselaws?id=66713 The ITAT upheld the addition of Rs. 45,500 under section 68 of the IT Act, 1961, due to insufficient evidence provided by the appellant regarding the creditworthiness of the creditors. However, considering the appellant's argument on the peak credit amount, the ITAT directed the AO to restrict the addition to Rs. 33,000 and delete the remaining Rs. 12,500. The appeal was allowed in part, with the addition reduced accordingly. en-us Fri, 20 Oct 2000 00:00:00 +0530 Sat, 05 Mar 2011 18:18:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66713 The ITAT upheld the addition of Rs. 45,500 under section 68 of the IT Act, 1961, due to insufficient evidence provided by the appellant regarding the creditworthiness of the creditors. However, considering the appellant's argument on the peak credit amount, the ITAT directed the AO to restrict the addition to Rs. 33,000 and delete the remaining Rs. 12,500. The appeal was allowed in part, with the addition reduced accordingly. Case-Laws Income Tax Fri, 20 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66713