https://www.taxtmi.com/caselaws?id=243662 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 30 lacs under Section 69A of the Income Tax Act. It found that the assessee adequately explained the source of the deposit, proving the genuineness of the transaction and the creditworthiness of the purchasers. The Tribunal overturned the lower authorities' decisions, emphasizing the satisfactory explanation provided by the assessee. en-us Fri, 31 Jan 2014 00:00:00 +0530 Fri, 07 Feb 2014 13:14:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243662 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 30 lacs under Section 69A of the Income Tax Act. It found that the assessee adequately explained the source of the deposit, proving the genuineness of the transaction and the creditworthiness of the purchasers. The Tribunal overturned the lower authorities' decisions, emphasizing the satisfactory explanation provided by the assessee. Case-Laws Income Tax Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243662