https://www.taxtmi.com/caselaws?id=255961 The High Court upheld the ITAT's decision to delete the amount added back under Section 68 of the Income Tax Act, citing a satisfactory explanation provided by the assessee. The Court also supported the ITAT's allowance of additional evidence under Rule 46A, emphasizing its role in establishing transaction credibility. The judgment stressed the importance of thoroughly reviewing evidence and providing credible explanations to avoid unjustified additions by the assessing officer. en-us Tue, 13 Jan 2015 00:00:00 +0530 Fri, 30 Jan 2015 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255961 The High Court upheld the ITAT's decision to delete the amount added back under Section 68 of the Income Tax Act, citing a satisfactory explanation provided by the assessee. The Court also supported the ITAT's allowance of additional evidence under Rule 46A, emphasizing its role in establishing transaction credibility. The judgment stressed the importance of thoroughly reviewing evidence and providing credible explanations to avoid unjustified additions by the assessing officer. Case-Laws Income Tax Tue, 13 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255961