https://www.taxtmi.com/caselaws?id=330244 The Tribunal upheld the CIT(A)'s decision to delete additions totaling Rs. 34,26,278 and Rs. 75,000 made by the AO without proper documentation. The CIT(A) found the AO erred in treating the outstanding credit amount as unexplained cash credit and making additions on an estimate basis. The Tribunal affirmed the deletion of the additions, emphasizing the genuineness of transactions and lack of concrete evidence for the additions. The appellant's deductions under sections 80-C and 80-D were allowed, and the Revenue's appeal was dismissed on 15-06-2016. en-us Wed, 15 Jun 2016 00:00:00 +0530 Thu, 21 Jul 2016 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330244 The Tribunal upheld the CIT(A)'s decision to delete additions totaling Rs. 34,26,278 and Rs. 75,000 made by the AO without proper documentation. The CIT(A) found the AO erred in treating the outstanding credit amount as unexplained cash credit and making additions on an estimate basis. The Tribunal affirmed the deletion of the additions, emphasizing the genuineness of transactions and lack of concrete evidence for the additions. The appellant's deductions under sections 80-C and 80-D were allowed, and the Revenue's appeal was dismissed on 15-06-2016. Case-Laws Income Tax Wed, 15 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330244