https://www.taxtmi.com/caselaws?id=218737 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 21,00,000 under Section 68 of the I.T. Act, 1961, dismissing the Revenue's appeal. The Tribunal found that the assessee had sufficiently proved the identity and genuineness of the transactions, shifting the burden of proof to the Revenue. The Tribunal noted procedural lapses by the AO and emphasized that the onus of proof is not static. The appeal of the department was ultimately dismissed, affirming the deletion of the addition. en-us Tue, 24 Jan 2012 00:00:00 +0530 Sat, 24 Nov 2012 02:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218737 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 21,00,000 under Section 68 of the I.T. Act, 1961, dismissing the Revenue's appeal. The Tribunal found that the assessee had sufficiently proved the identity and genuineness of the transactions, shifting the burden of proof to the Revenue. The Tribunal noted procedural lapses by the AO and emphasized that the onus of proof is not static. The appeal of the department was ultimately dismissed, affirming the deletion of the addition. Case-Laws Income Tax Tue, 24 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218737