https://www.taxtmi.com/caselaws?id=253830 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,02,82,924/- as unexplained cash credit under Section 68 of the Income-tax Act. The Tribunal found that the assessee had proven the genuineness of creditors, highlighting inconsistencies in the AO's findings and lack of further inquiries. Both the Revenue's appeal and the assessee's cross-objection were dismissed, with the Tribunal emphasizing the adequacy of the assessee's explanations and the insufficiency of the AO's investigations. The final order was pronounced on 24th November 2014. en-us Mon, 24 Nov 2014 00:00:00 +0530 Fri, 05 Dec 2014 12:48:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253830 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,02,82,924/- as unexplained cash credit under Section 68 of the Income-tax Act. The Tribunal found that the assessee had proven the genuineness of creditors, highlighting inconsistencies in the AO's findings and lack of further inquiries. Both the Revenue's appeal and the assessee's cross-objection were dismissed, with the Tribunal emphasizing the adequacy of the assessee's explanations and the insufficiency of the AO's investigations. The final order was pronounced on 24th November 2014. Case-Laws Income Tax Mon, 24 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253830