https://www.taxtmi.com/caselaws?id=327257 The Tribunal confirmed the addition of Rs. 61,25,000 under Section 68 of the Income Tax Act, 1961, as the loans were deemed non-genuine due to doubts regarding the lenders' creditworthiness and transaction authenticity. However, the Tribunal set aside the addition of Rs. 11,09,350 under Section 41(1) for further verification by the Assessing Officer, directing a re-examination of the actual suppliers and transactions involving a commission agent. en-us Tue, 15 Mar 2016 00:00:00 +0530 Sat, 07 May 2016 11:16:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327257 The Tribunal confirmed the addition of Rs. 61,25,000 under Section 68 of the Income Tax Act, 1961, as the loans were deemed non-genuine due to doubts regarding the lenders' creditworthiness and transaction authenticity. However, the Tribunal set aside the addition of Rs. 11,09,350 under Section 41(1) for further verification by the Assessing Officer, directing a re-examination of the actual suppliers and transactions involving a commission agent. Case-Laws Income Tax Tue, 15 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327257