https://www.taxtmi.com/caselaws?id=252558 The ITAT upheld the CIT(A)'s decision to delete additions of Rs. 20,37,05,000 under Section 68 and Rs. 4,32,07,394 on account of unconfirmed creditors. The ITAT found that the assessee had adequately proven the identity, creditworthiness, and genuineness of transactions, providing necessary documents. The AO's lack of proper inquiry and justification for the additions led to the deletions being upheld. The revenue's appeal was dismissed, affirming the deletion of both additions. en-us Tue, 28 Jan 2014 00:00:00 +0530 Wed, 29 Oct 2014 07:33:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252558 The ITAT upheld the CIT(A)'s decision to delete additions of Rs. 20,37,05,000 under Section 68 and Rs. 4,32,07,394 on account of unconfirmed creditors. The ITAT found that the assessee had adequately proven the identity, creditworthiness, and genuineness of transactions, providing necessary documents. The AO's lack of proper inquiry and justification for the additions led to the deletions being upheld. The revenue's appeal was dismissed, affirming the deletion of both additions. Case-Laws Income Tax Tue, 28 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252558