https://www.taxtmi.com/caselaws?id=216984 The Tribunal upheld the deletion of an addition of Rs. 38,60,698 as unexplained cash credit for assessment year 2007-08. The Commissioner found the assessee provided satisfactory evidence establishing the identity and creditworthiness of the entity involved in the transaction. The genuineness of the transaction was supported by banking records showing repayment shortly after receipt. The Departmental Representative did not challenge the evidence, leading to the Tribunal affirming the Commissioner's decision and dismissing the Revenue's appeal. en-us Fri, 06 Jul 2012 00:00:00 +0530 Wed, 26 Sep 2012 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216984 The Tribunal upheld the deletion of an addition of Rs. 38,60,698 as unexplained cash credit for assessment year 2007-08. The Commissioner found the assessee provided satisfactory evidence establishing the identity and creditworthiness of the entity involved in the transaction. The genuineness of the transaction was supported by banking records showing repayment shortly after receipt. The Departmental Representative did not challenge the evidence, leading to the Tribunal affirming the Commissioner's decision and dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 06 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216984