https://www.taxtmi.com/caselaws?id=332953 The Tribunal allowed the appeal, ruling in favor of the appellant, and directed the Assessing Officer to remove the addition of Rs. 55,71,480 under section 68 of the Income Tax Act for the assessment year 2000-01. The Tribunal found that the appellant adequately explained the nature and source of the credits through evidence provided, including confirmations and income tax returns from the creditors, shifting the burden of proof to the Revenue, which failed to refute the credible evidence presented. en-us Fri, 19 Aug 2016 00:00:00 +0530 Fri, 30 Sep 2016 14:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332953 The Tribunal allowed the appeal, ruling in favor of the appellant, and directed the Assessing Officer to remove the addition of Rs. 55,71,480 under section 68 of the Income Tax Act for the assessment year 2000-01. The Tribunal found that the appellant adequately explained the nature and source of the credits through evidence provided, including confirmations and income tax returns from the creditors, shifting the burden of proof to the Revenue, which failed to refute the credible evidence presented. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332953