https://www.taxtmi.com/caselaws?id=258945 The court upheld the decisions of the Appellate Tribunal and Commissioner of Income Tax (Appeals) in deleting additions made by the Assessing Officer under Section 68 of the Income Tax Act and interest disallowance. The court found that the assessee had successfully proven the identity, creditworthiness, and genuineness of the depositors, discharging the initial burden. The court emphasized that the Assessing Officer should have conducted further inquiries based on the information provided before making the additions. The Tax Appeal was dismissed as no substantial question of law arose. en-us Mon, 23 Mar 2015 00:00:00 +0530 Sat, 25 Apr 2015 06:31:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258945 The court upheld the decisions of the Appellate Tribunal and Commissioner of Income Tax (Appeals) in deleting additions made by the Assessing Officer under Section 68 of the Income Tax Act and interest disallowance. The court found that the assessee had successfully proven the identity, creditworthiness, and genuineness of the depositors, discharging the initial burden. The court emphasized that the Assessing Officer should have conducted further inquiries based on the information provided before making the additions. The Tax Appeal was dismissed as no substantial question of law arose. Case-Laws Income Tax Mon, 23 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258945