https://www.taxtmi.com/caselaws?id=265996 The Appellate Tribunal upheld the First Appellate Authority's decision to delete additions made by the Assessing Officer under section 68 of the Income Tax Act. The Tribunal found that the assessee had provided sufficient evidence to prove the genuineness of the transactions, shifting the burden to the AO. The AO's failure to adequately investigate the transactions led to the dismissal of their appeal, with the Tribunal affirming the deletion of additions totaling Rs. 70.51 lakhs. en-us Wed, 09 Sep 2015 00:00:00 +0530 Sat, 17 Oct 2015 08:15:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265996 The Appellate Tribunal upheld the First Appellate Authority's decision to delete additions made by the Assessing Officer under section 68 of the Income Tax Act. The Tribunal found that the assessee had provided sufficient evidence to prove the genuineness of the transactions, shifting the burden to the AO. The AO's failure to adequately investigate the transactions led to the dismissal of their appeal, with the Tribunal affirming the deletion of additions totaling Rs. 70.51 lakhs. Case-Laws Income Tax Wed, 09 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265996