https://www.taxtmi.com/caselaws?id=266619 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,78,57,082 made under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided detailed charts during the assessment proceedings regarding the sale of shares and repayment of loans, which the Assessing Officer overlooked. As the Assessing Officer failed to rebut the explanations and evidence filed by the assessee, the CIT(A) rightly deleted the addition, emphasizing that the detailed charts were not considered, leading to the dismissal of the appeal by the Revenue. en-us Thu, 27 Aug 2015 00:00:00 +0530 Thu, 22 Oct 2015 15:05:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266619 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,78,57,082 made under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided detailed charts during the assessment proceedings regarding the sale of shares and repayment of loans, which the Assessing Officer overlooked. As the Assessing Officer failed to rebut the explanations and evidence filed by the assessee, the CIT(A) rightly deleted the addition, emphasizing that the detailed charts were not considered, leading to the dismissal of the appeal by the Revenue. Case-Laws Income Tax Thu, 27 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266619