https://www.taxtmi.com/caselaws?id=327256 The Tribunal confirmed the addition under Section 68 of the Income Tax Act, 1961, pertaining to unexplained cash credits. However, the appeal was allowed regarding the disallowance under Section 40(a)(ia) for non-deduction of TDS on payments made to agents of foreign shipping lines. The Tribunal directed verification by the Assessing Officer and emphasized the necessity of proving creditworthiness and genuineness of transactions, as well as applying TDS provisions correctly based on payment nature. en-us Tue, 15 Mar 2016 00:00:00 +0530 Sat, 07 May 2016 11:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327256 The Tribunal confirmed the addition under Section 68 of the Income Tax Act, 1961, pertaining to unexplained cash credits. However, the appeal was allowed regarding the disallowance under Section 40(a)(ia) for non-deduction of TDS on payments made to agents of foreign shipping lines. The Tribunal directed verification by the Assessing Officer and emphasized the necessity of proving creditworthiness and genuineness of transactions, as well as applying TDS provisions correctly based on payment nature. Case-Laws Income Tax Tue, 15 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327256