https://www.taxtmi.com/caselaws?id=333899 The Tribunal allowed the appeal, deleting the addition of Rs. 25,26,149/- under Section 68 of the Income Tax Act, 1961, and reversing the disallowance of interest expenses of Rs. 94,466/- related to alleged cash credit. The decision was based on the assessee providing substantial evidence to establish the identity and genuineness of the transactions, highlighting that the transactions were conducted through account payee cheques and that questioning the creditworthiness of the creditors without concrete evidence was insufficient to uphold the additions. en-us Thu, 06 Oct 2016 00:00:00 +0530 Thu, 27 Oct 2016 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333899 The Tribunal allowed the appeal, deleting the addition of Rs. 25,26,149/- under Section 68 of the Income Tax Act, 1961, and reversing the disallowance of interest expenses of Rs. 94,466/- related to alleged cash credit. The decision was based on the assessee providing substantial evidence to establish the identity and genuineness of the transactions, highlighting that the transactions were conducted through account payee cheques and that questioning the creditworthiness of the creditors without concrete evidence was insufficient to uphold the additions. Case-Laws Income Tax Thu, 06 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333899