https://www.taxtmi.com/caselaws?id=243776 The Tribunal upheld the CIT(A)'s decision in an appeal against the deletion of an addition under section 68 of the Income Tax Act. The Tribunal found that the assessee successfully demonstrated the genuineness of the transaction, the creditworthiness of the loan creditor, Mr. Aamir Gazdar, and the legitimate source of funds from Mr. Abdul H. Gazdar. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition made by the Assessing Officer, as the evidence presented by the assessee was deemed sufficient to establish the legitimacy of the transactions. en-us Fri, 31 Jan 2014 00:00:00 +0530 Mon, 10 Feb 2014 07:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243776 The Tribunal upheld the CIT(A)'s decision in an appeal against the deletion of an addition under section 68 of the Income Tax Act. The Tribunal found that the assessee successfully demonstrated the genuineness of the transaction, the creditworthiness of the loan creditor, Mr. Aamir Gazdar, and the legitimate source of funds from Mr. Abdul H. Gazdar. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition made by the Assessing Officer, as the evidence presented by the assessee was deemed sufficient to establish the legitimacy of the transactions. Case-Laws Income Tax Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243776