https://www.taxtmi.com/caselaws?id=338689 The appeal challenging the Income Tax Appellate Tribunal's orders on the creditworthiness of shareholders was dismissed. The Tribunal's decision was upheld, emphasizing the need for a proper inquiry by the Assessing Officer and the Tribunal's role in evaluating the genuineness of evidence. The judgment highlighted that suspicion cannot substitute evidence and that the Tribunal's thorough assessment of the material presented was valid. Legal precedents were cited to support the decision, concluding that no substantial question of law justified reconsideration as the Tribunal had diligently examined the facts and evidence. en-us Mon, 23 Jan 2017 00:00:00 +0530 Thu, 09 Feb 2017 12:27:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338689 The appeal challenging the Income Tax Appellate Tribunal's orders on the creditworthiness of shareholders was dismissed. The Tribunal's decision was upheld, emphasizing the need for a proper inquiry by the Assessing Officer and the Tribunal's role in evaluating the genuineness of evidence. The judgment highlighted that suspicion cannot substitute evidence and that the Tribunal's thorough assessment of the material presented was valid. Legal precedents were cited to support the decision, concluding that no substantial question of law justified reconsideration as the Tribunal had diligently examined the facts and evidence. Case-Laws Income Tax Mon, 23 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338689