https://www.taxtmi.com/caselaws?id=244401 The Court upheld the Tribunal's decision, dismissing the appeal as the assessee failed to provide a satisfactory explanation for credit entries under Section 68 of the Income Tax Act. The Court found the genuineness of transactions and the identity of remitters were inadequately proven, with evidence lacking to meet statutory requirements. Despite attempts to link remitting companies to individuals, the missing link in the transaction chain was not established, leading to the restoration of the Assessing Officer's order. en-us Thu, 20 Feb 2014 00:00:00 +0530 Thu, 21 Aug 2014 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244401 The Court upheld the Tribunal's decision, dismissing the appeal as the assessee failed to provide a satisfactory explanation for credit entries under Section 68 of the Income Tax Act. The Court found the genuineness of transactions and the identity of remitters were inadequately proven, with evidence lacking to meet statutory requirements. Despite attempts to link remitting companies to individuals, the missing link in the transaction chain was not established, leading to the restoration of the Assessing Officer's order. Case-Laws Income Tax Thu, 20 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244401