https://www.taxtmi.com/caselaws?id=326240 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order that deleted the addition under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had adequately proven the identity, genuineness, and creditworthiness of the depositors, shifting the burden of proof to the A.O. The A.O. failed to conduct further inquiries to disprove the evidence provided by the assessee, leading to the dismissal of the Revenue's appeal. en-us Wed, 13 Jan 2016 00:00:00 +0530 Sun, 10 Apr 2016 08:37:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326240 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order that deleted the addition under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had adequately proven the identity, genuineness, and creditworthiness of the depositors, shifting the burden of proof to the A.O. The A.O. failed to conduct further inquiries to disprove the evidence provided by the assessee, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326240