https://www.taxtmi.com/caselaws?id=187575 The High Court dismissed the appeal concerning the addition of Rs. 50 lakhs under Section 68 of the Income Tax Act. The appellant, a cement company, failed to establish the identity and genuineness of the transaction with Gold Crest Finance (India) Limited. The Court upheld the decision that the appellant did not discharge the burden of proof, resulting in the rejection of the appeal. The primary burden under Section 68 was not met, leading to the dismissal of the case without raising substantial legal questions. en-us Fri, 13 Apr 2012 00:00:00 +0530 Thu, 27 Oct 2016 13:03:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187575 The High Court dismissed the appeal concerning the addition of Rs. 50 lakhs under Section 68 of the Income Tax Act. The appellant, a cement company, failed to establish the identity and genuineness of the transaction with Gold Crest Finance (India) Limited. The Court upheld the decision that the appellant did not discharge the burden of proof, resulting in the rejection of the appeal. The primary burden under Section 68 was not met, leading to the dismissal of the case without raising substantial legal questions. Case-Laws Income Tax Fri, 13 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187575