https://www.taxtmi.com/caselaws?id=181926 The Tribunal dismissed all three appeals filed by the assessee, confirming the additions made by the Assessing Officer under section 68, treating surplus as business income, and denying exemptions under sections 54EC and 10(38). The levy of interest under section 234B was also upheld, with a provision for consequential relief if applicable. The Tribunal highlighted the significance of surrounding circumstances and human probabilities in assessing the genuineness of transactions. en-us Fri, 18 Feb 2011 00:00:00 +0530 Wed, 27 Apr 2016 18:31:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181926 The Tribunal dismissed all three appeals filed by the assessee, confirming the additions made by the Assessing Officer under section 68, treating surplus as business income, and denying exemptions under sections 54EC and 10(38). The levy of interest under section 234B was also upheld, with a provision for consequential relief if applicable. The Tribunal highlighted the significance of surrounding circumstances and human probabilities in assessing the genuineness of transactions. Case-Laws Income Tax Fri, 18 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181926