https://www.taxtmi.com/caselaws?id=248382 The Tribunal upheld the CIT(A)'s decision to restrict the addition on account of unexplained cash credit from Rs. 43,70,000 to Rs. 2,00,000. The Tribunal also supported the reduction of the disallowance of interest from Rs. 1,82,648 to Rs. 11,770. It found that the CIT(A) had thoroughly examined the evidence provided by the assessee, including PAN, income-tax returns, and lender confirmations, and concluded that the transactions were genuine. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s order, citing consistency with prior judicial precedents. en-us Fri, 23 May 2014 00:00:00 +0530 Wed, 11 Jun 2014 11:31:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248382 The Tribunal upheld the CIT(A)'s decision to restrict the addition on account of unexplained cash credit from Rs. 43,70,000 to Rs. 2,00,000. The Tribunal also supported the reduction of the disallowance of interest from Rs. 1,82,648 to Rs. 11,770. It found that the CIT(A) had thoroughly examined the evidence provided by the assessee, including PAN, income-tax returns, and lender confirmations, and concluded that the transactions were genuine. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s order, citing consistency with prior judicial precedents. Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248382