https://www.taxtmi.com/caselaws?id=67074 The appeal was allowed in the case challenging the addition of income under section 69D of the Income Tax Act for loans without hundies executed. The Tribunal ruled that section 69D did not apply as no hundies were involved, contrary to the Income Tax Officer's decision. Additionally, the Tribunal emphasized the importance of assessing explanations provided by the assessee under section 68 regarding cash credits. The assessment order and the Appellate Assistant Commissioner's decision were set aside, directing a reconsideration under section 68. en-us Wed, 04 Apr 1984 00:00:00 +0530 Tue, 08 Mar 2011 19:00:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67074 The appeal was allowed in the case challenging the addition of income under section 69D of the Income Tax Act for loans without hundies executed. The Tribunal ruled that section 69D did not apply as no hundies were involved, contrary to the Income Tax Officer's decision. Additionally, the Tribunal emphasized the importance of assessing explanations provided by the assessee under section 68 regarding cash credits. The assessment order and the Appellate Assistant Commissioner's decision were set aside, directing a reconsideration under section 68. Case-Laws Income Tax Wed, 04 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67074