https://www.taxtmi.com/caselaws?id=185873 The Tribunal allowed the appeal, setting aside the Commissioner of Income-tax (Appeals) order and directing the deletion of the addition of Rs. 8 lakhs under section 68 of the Income-tax Act, 1961. The Tribunal found that the assessee had successfully proven the identity, genuineness, and creditworthiness of the creditor, and that the burden of proof had been discharged. The explanation provided by the assessee regarding the loan received was deemed satisfactory, leading to the removal of the addition. en-us Wed, 27 Jul 2011 00:00:00 +0530 Wed, 31 Aug 2016 17:03:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185873 The Tribunal allowed the appeal, setting aside the Commissioner of Income-tax (Appeals) order and directing the deletion of the addition of Rs. 8 lakhs under section 68 of the Income-tax Act, 1961. The Tribunal found that the assessee had successfully proven the identity, genuineness, and creditworthiness of the creditor, and that the burden of proof had been discharged. The explanation provided by the assessee regarding the loan received was deemed satisfactory, leading to the removal of the addition. Case-Laws Income Tax Wed, 27 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185873