https://www.taxtmi.com/caselaws?id=331521 The Tribunal set aside the CIT(A)'s decision and reinstated the Assessing Officer's addition of Rs. 36,80,000 as unexplained cash credit under Section 68 of the Income-tax Act, 1961. The Tribunal found that the assessee failed to prove the genuineness of the transactions and the creditworthiness of the creditors, leading to the restoration of the initial addition. The Revenue's appeal was allowed, with the final judgment pronounced on 8th July 2016. en-us Fri, 08 Jul 2016 00:00:00 +0530 Tue, 23 Aug 2016 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331521 The Tribunal set aside the CIT(A)'s decision and reinstated the Assessing Officer's addition of Rs. 36,80,000 as unexplained cash credit under Section 68 of the Income-tax Act, 1961. The Tribunal found that the assessee failed to prove the genuineness of the transactions and the creditworthiness of the creditors, leading to the restoration of the initial addition. The Revenue's appeal was allowed, with the final judgment pronounced on 8th July 2016. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331521