https://www.taxtmi.com/caselaws?id=234834 The Tribunal upheld the CIT (A)'s decision to delete the addition of Rs. 13 lac under section 68 of the IT Act for alleged unsecured loans. The department's appeal was dismissed as lacking merit, with the Tribunal emphasizing the genuineness of transactions, proper documentation, and loan repayments by the assessee. The CIT (A) found the Assessing Officer failed to prove the undisclosed income as the assessee's own money, leading to the rejection of the department's arguments and the maintenance of the deletion of the addition. en-us Fri, 14 Jun 2013 00:00:00 +0530 Sat, 29 Jun 2013 09:28:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234834 The Tribunal upheld the CIT (A)'s decision to delete the addition of Rs. 13 lac under section 68 of the IT Act for alleged unsecured loans. The department's appeal was dismissed as lacking merit, with the Tribunal emphasizing the genuineness of transactions, proper documentation, and loan repayments by the assessee. The CIT (A) found the Assessing Officer failed to prove the undisclosed income as the assessee's own money, leading to the rejection of the department's arguments and the maintenance of the deletion of the addition. Case-Laws Income Tax Fri, 14 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234834