https://www.taxtmi.com/caselaws?id=342467 The Tribunal partially allowed the appeal by deleting the addition of Rs. 12,00,000/- under Section 68 of the Income Tax Act, as the assessee successfully proved the identity, genuineness, and creditworthiness of the loan creditors. The Tribunal remanded the issue of the denial of deduction under Section 54F for long-term capital gains back to the Assessing Officer for fresh adjudication, emphasizing the importance of considering claims made during assessment proceedings and verifying evidence provided by the assessee. en-us Tue, 02 May 2017 00:00:00 +0530 Fri, 05 May 2017 07:35:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342467 The Tribunal partially allowed the appeal by deleting the addition of Rs. 12,00,000/- under Section 68 of the Income Tax Act, as the assessee successfully proved the identity, genuineness, and creditworthiness of the loan creditors. The Tribunal remanded the issue of the denial of deduction under Section 54F for long-term capital gains back to the Assessing Officer for fresh adjudication, emphasizing the importance of considering claims made during assessment proceedings and verifying evidence provided by the assessee. Case-Laws Income Tax Tue, 02 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342467