https://www.taxtmi.com/caselaws?id=242644 The Tribunal allowed the appeal, setting aside the addition of Rs.31.50 lakhs under section 68 of the Act for unexplained cash credit. It found that the assessee adequately proved the receipt of Rs. 33,50,000 through email correspondences and an affidavit, noting the lack of effort by the Assessing Officer to verify the claim with the purchaser. The Tribunal directed the Assessing Officer to consider the sale consideration as Rs. 33,50,000, emphasizing the assessee's fulfillment of the burden of proof required under section 68 of the Act. en-us Thu, 20 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242644 The Tribunal allowed the appeal, setting aside the addition of Rs.31.50 lakhs under section 68 of the Act for unexplained cash credit. It found that the assessee adequately proved the receipt of Rs. 33,50,000 through email correspondences and an affidavit, noting the lack of effort by the Assessing Officer to verify the claim with the purchaser. The Tribunal directed the Assessing Officer to consider the sale consideration as Rs. 33,50,000, emphasizing the assessee's fulfillment of the burden of proof required under section 68 of the Act. Case-Laws Income Tax Thu, 20 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242644