https://www.taxtmi.com/caselaws?id=254329 The Tribunal upheld the addition of Rs. 1,66,01,834 as undisclosed income under Section 68 of the Income Tax Act, dismissing the appeal filed by the assessee. The Tribunal found that the assessee failed to prove the creditworthiness of the lender and the genuineness of the transaction, despite receiving the amount through banking channels. The Tribunal emphasized the importance of establishing the legitimacy of credits in the brother's bank account and providing comprehensive financial statements. en-us Fri, 12 Dec 2014 00:00:00 +0530 Fri, 19 Dec 2014 12:06:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254329 The Tribunal upheld the addition of Rs. 1,66,01,834 as undisclosed income under Section 68 of the Income Tax Act, dismissing the appeal filed by the assessee. The Tribunal found that the assessee failed to prove the creditworthiness of the lender and the genuineness of the transaction, despite receiving the amount through banking channels. The Tribunal emphasized the importance of establishing the legitimacy of credits in the brother's bank account and providing comprehensive financial statements. Case-Laws Income Tax Fri, 12 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254329