https://www.taxtmi.com/caselaws?id=184184 The Tribunal allowed the appeal of the assessee, concluding that the addition of Rs. 2,19,140 made by the Assessing Officer under Section 68 of the Income-tax Act was unjustified. The assessee had provided sufficient documentary evidence, including demand drafts and bank statements, to prove the genuineness of the share transactions. The Tribunal found no evidence to suggest the amount represented unaccounted money. Consequently, the addition made by the Assessing Officer was deleted, as it was not supported by evidence and relied merely on doubts or presumptions. en-us Wed, 30 Apr 2008 00:00:00 +0530 Wed, 13 Dec 2023 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184184 The Tribunal allowed the appeal of the assessee, concluding that the addition of Rs. 2,19,140 made by the Assessing Officer under Section 68 of the Income-tax Act was unjustified. The assessee had provided sufficient documentary evidence, including demand drafts and bank statements, to prove the genuineness of the share transactions. The Tribunal found no evidence to suggest the amount represented unaccounted money. Consequently, the addition made by the Assessing Officer was deleted, as it was not supported by evidence and relied merely on doubts or presumptions. Case-Laws Income Tax Wed, 30 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184184