https://www.taxtmi.com/caselaws?id=217803 The Tribunal upheld the addition of Rs. 13,00,000/- on account of unexplained cash credits/loans u/s. 68 of the IT Act and the disallowance of 20% expenditure out of conveyance and mobile phone expenses. The assessee failed to establish the creditworthiness of the creditors and the genuineness of the transactions, leading to the dismissal of the appeal on both grounds. en-us Fri, 16 Mar 2012 00:00:00 +0530 Fri, 26 Oct 2012 08:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217803 The Tribunal upheld the addition of Rs. 13,00,000/- on account of unexplained cash credits/loans u/s. 68 of the IT Act and the disallowance of 20% expenditure out of conveyance and mobile phone expenses. The assessee failed to establish the creditworthiness of the creditors and the genuineness of the transactions, leading to the dismissal of the appeal on both grounds. Case-Laws Income Tax Fri, 16 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217803