https://www.taxtmi.com/caselaws?id=216442 The ITAT allowed the appeal of the assessee, ruling in favor of the assessee on both grounds. The addition under section 68 of Rs. 1,14,000 was deemed unjustified and deleted as the ITAT found the creditors identifiable and the Assessing Officer failed to prove the source of their money. Additionally, the disallowed deduction of Rs. 60,000 as salary to Shri Hani Jain was also deleted as the ITAT found no violation of provisions and insufficient justification by the Assessing Officer for disallowing the payment. en-us Fri, 22 Jun 2012 00:00:00 +0530 Wed, 29 Aug 2012 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216442 The ITAT allowed the appeal of the assessee, ruling in favor of the assessee on both grounds. The addition under section 68 of Rs. 1,14,000 was deemed unjustified and deleted as the ITAT found the creditors identifiable and the Assessing Officer failed to prove the source of their money. Additionally, the disallowed deduction of Rs. 60,000 as salary to Shri Hani Jain was also deleted as the ITAT found no violation of provisions and insufficient justification by the Assessing Officer for disallowing the payment. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216442