https://www.taxtmi.com/caselaws?id=169139 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision to add Rs. 10 lakhs as unexplained cash credit under section 68 for the assessment year 2009-10. The assessee's claim for exemption under section 10B as a 100% export-oriented unit was rejected, clarifying that section 10B applies to profits from export activities, not unexplained cash credits. Despite affidavits, lack of supporting documents for transactions with alleged creditors led to the dismissal of the appeal. The Tribunal emphasized the necessity of concrete evidence and affirmed the original assessment decision. en-us Fri, 12 Sep 2014 00:00:00 +0530 Mon, 06 Apr 2015 21:57:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169139 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision to add Rs. 10 lakhs as unexplained cash credit under section 68 for the assessment year 2009-10. The assessee's claim for exemption under section 10B as a 100% export-oriented unit was rejected, clarifying that section 10B applies to profits from export activities, not unexplained cash credits. Despite affidavits, lack of supporting documents for transactions with alleged creditors led to the dismissal of the appeal. The Tribunal emphasized the necessity of concrete evidence and affirmed the original assessment decision. Case-Laws Income Tax Fri, 12 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169139