https://www.taxtmi.com/caselaws?id=207464 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 20,00,000 under section 68 of the Income Tax Act, 1961. The Tribunal found the transaction involving the loan amount to be genuine based on book entries, as there was no physical transfer of funds. The Revenue's appeal was dismissed as there was no evidence to support the claim that the transaction was sham. The deletion of the addition by the AO was upheld, emphasizing that book entries without physical transfer do not constitute unexplained cash credits. en-us Thu, 01 Dec 2011 00:00:00 +0530 Tue, 13 Dec 2011 23:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207464 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 20,00,000 under section 68 of the Income Tax Act, 1961. The Tribunal found the transaction involving the loan amount to be genuine based on book entries, as there was no physical transfer of funds. The Revenue's appeal was dismissed as there was no evidence to support the claim that the transaction was sham. The deletion of the addition by the AO was upheld, emphasizing that book entries without physical transfer do not constitute unexplained cash credits. Case-Laws Income Tax Thu, 01 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207464