https://www.taxtmi.com/caselaws?id=179534 The Tribunal dismissed the Revenue's appeal challenging the deletion of additions under section 68 of the Income Tax Act for unexplained cash credit, interest on cash credit, Diwali expenses, and office expenses. The Tribunal upheld the decision of the ld. CIT(A) that the assessee had provided sufficient evidence to prove the genuineness of the loans and expenses, shifting the burden to the Revenue to disprove the claims, which they failed to do. Therefore, the additions made by the AO were deemed unjustified, and the Tribunal rejected the Revenue's grounds for appeal. en-us Fri, 25 Mar 2011 00:00:00 +0530 Thu, 03 Mar 2016 18:27:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179534 The Tribunal dismissed the Revenue's appeal challenging the deletion of additions under section 68 of the Income Tax Act for unexplained cash credit, interest on cash credit, Diwali expenses, and office expenses. The Tribunal upheld the decision of the ld. CIT(A) that the assessee had provided sufficient evidence to prove the genuineness of the loans and expenses, shifting the burden to the Revenue to disprove the claims, which they failed to do. Therefore, the additions made by the AO were deemed unjustified, and the Tribunal rejected the Revenue's grounds for appeal. Case-Laws Income Tax Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179534