https://www.taxtmi.com/caselaws?id=263245 The ITAT allowed the appellant's appeal on all grounds, admitting additional evidence for fresh consideration by the Assessing Officer. The denial of admission of additional evidence under Rule 46A was challenged successfully, as the Assessing Officer's actions violated principles of natural justice. The ITAT also found errors in sustaining the addition under Section 68 without proving the credit worthiness of lenders and directed a reconsideration of the matter. The appellant's concerns regarding the failure to appreciate evidence of identity, genuineness, and credit worthiness were acknowledged, leading to the admission of crucial evidence for reevaluation. en-us Fri, 07 Aug 2015 00:00:00 +0530 Sat, 29 Aug 2015 05:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263245 The ITAT allowed the appellant's appeal on all grounds, admitting additional evidence for fresh consideration by the Assessing Officer. The denial of admission of additional evidence under Rule 46A was challenged successfully, as the Assessing Officer's actions violated principles of natural justice. The ITAT also found errors in sustaining the addition under Section 68 without proving the credit worthiness of lenders and directed a reconsideration of the matter. The appellant's concerns regarding the failure to appreciate evidence of identity, genuineness, and credit worthiness were acknowledged, leading to the admission of crucial evidence for reevaluation. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263245