https://www.taxtmi.com/caselaws?id=4032 The Tribunal upheld the addition of Rs. 38,518 as the income of the assessee, citing lack of genuineness in the credit. Despite statements confirming the credits, discrepancies in transactions led to the conclusion that the credits were not genuine. The Tribunal interpreted Section 68 of the Income-tax Act to require proof of the genuineness of transactions. The petition was dismissed as the assessee failed to prove the credits' genuineness, and the Tribunal's decision to uphold the additions made by the Assessing Officer was found justified. en-us Mon, 11 Oct 2004 00:00:00 +0530 Sat, 26 Jul 2008 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4032 The Tribunal upheld the addition of Rs. 38,518 as the income of the assessee, citing lack of genuineness in the credit. Despite statements confirming the credits, discrepancies in transactions led to the conclusion that the credits were not genuine. The Tribunal interpreted Section 68 of the Income-tax Act to require proof of the genuineness of transactions. The petition was dismissed as the assessee failed to prove the credits' genuineness, and the Tribunal's decision to uphold the additions made by the Assessing Officer was found justified. Case-Laws Income Tax Mon, 11 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4032