https://www.taxtmi.com/caselaws?id=258794 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 for both assessment years, as the assessee established the identity, genuineness, and creditworthiness of the creditors. The Tribunal also confirmed the deletion of interest expenditure disallowance related to these creditors, emphasizing the AO's duty to rebut evidence and not rely on presumptions. The revenue's appeals for both assessment years were dismissed. en-us Tue, 31 Mar 2015 00:00:00 +0530 Mon, 20 Apr 2015 21:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258794 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 for both assessment years, as the assessee established the identity, genuineness, and creditworthiness of the creditors. The Tribunal also confirmed the deletion of interest expenditure disallowance related to these creditors, emphasizing the AO's duty to rebut evidence and not rely on presumptions. The revenue's appeals for both assessment years were dismissed. Case-Laws Income Tax Tue, 31 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258794