https://www.taxtmi.com/caselaws?id=338252 The tribunal upheld the additions of Rs. 1,34,70,822 and Rs. 6,00,000 as unexplained cash credits and deposits, respectively, under Section 68 of the Income Tax Act. The tribunal emphasized the burden of proof on the assessee to provide satisfactory explanations and evidence for cash transactions, noting the lack of supporting documentation and details in both instances. The tribunal highlighted the necessity of proving the identity, genuineness, and creditworthiness of transactions to avoid such additions. en-us Wed, 25 Jan 2017 00:00:00 +0530 Sun, 29 Jan 2017 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338252 The tribunal upheld the additions of Rs. 1,34,70,822 and Rs. 6,00,000 as unexplained cash credits and deposits, respectively, under Section 68 of the Income Tax Act. The tribunal emphasized the burden of proof on the assessee to provide satisfactory explanations and evidence for cash transactions, noting the lack of supporting documentation and details in both instances. The tribunal highlighted the necessity of proving the identity, genuineness, and creditworthiness of transactions to avoid such additions. Case-Laws Income Tax Wed, 25 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338252