https://www.taxtmi.com/caselaws?id=266481 The Revenue's appeal against the deletion of Rs. 1,60,00,000 as unexplained credit under Section 68 of the Income Tax Act, 1961 was dismissed. The CIT(A) found that the assessee provided sufficient evidence to establish the identity, creditworthiness, and genuineness of the shareholder companies, refuting the AO's claims of non-existence. The ITAT upheld the CIT(A)'s decision, confirming the deletion of the addition and emphasizing the assessee's fulfillment of evidentiary requirements. en-us Tue, 22 Sep 2015 00:00:00 +0530 Wed, 21 Oct 2015 09:46:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266481 The Revenue's appeal against the deletion of Rs. 1,60,00,000 as unexplained credit under Section 68 of the Income Tax Act, 1961 was dismissed. The CIT(A) found that the assessee provided sufficient evidence to establish the identity, creditworthiness, and genuineness of the shareholder companies, refuting the AO's claims of non-existence. The ITAT upheld the CIT(A)'s decision, confirming the deletion of the addition and emphasizing the assessee's fulfillment of evidentiary requirements. Case-Laws Income Tax Tue, 22 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266481