https://www.taxtmi.com/caselaws?id=253243 The appeal challenging the addition of Rs. 3,00,000 under section 68 of the Income Tax Act for the assessment year 1993-94 was dismissed. The Tribunal upheld the addition, ruling in favor of the revenue and against the assessee. The court emphasized the importance of establishing the genuineness of credits and noted that while some credits were verified, others lacked evidence. Ultimately, the Tribunal affirmed Rs. 89,000 as the correct credit and upheld the addition, leading to the dismissal of the appeal with no costs. en-us Thu, 16 Oct 2014 00:00:00 +0530 Wed, 19 Nov 2014 08:26:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253243 The appeal challenging the addition of Rs. 3,00,000 under section 68 of the Income Tax Act for the assessment year 1993-94 was dismissed. The Tribunal upheld the addition, ruling in favor of the revenue and against the assessee. The court emphasized the importance of establishing the genuineness of credits and noted that while some credits were verified, others lacked evidence. Ultimately, the Tribunal affirmed Rs. 89,000 as the correct credit and upheld the addition, leading to the dismissal of the appeal with no costs. Case-Laws Income Tax Thu, 16 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253243