https://www.taxtmi.com/caselaws?id=343968 The Tribunal upheld the addition of Rs. 95,50,000/- on account of unexplained cash credits in the assessee's books, as the assessee failed to prove the source of these credits despite multiple opportunities. Additionally, the Tribunal ruled in favor of the assessee regarding the deletion of Rs. 50,00,000/- related to unexplained credits from Shree Krishna Supply Agency, as it was found that the amount was transferred from a partner's personal account for a legitimate purpose. The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection, affirming the CIT-(A)'s decisions on both issues. en-us Mon, 29 May 2017 00:00:00 +0530 Tue, 06 Jun 2017 07:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343968 The Tribunal upheld the addition of Rs. 95,50,000/- on account of unexplained cash credits in the assessee's books, as the assessee failed to prove the source of these credits despite multiple opportunities. Additionally, the Tribunal ruled in favor of the assessee regarding the deletion of Rs. 50,00,000/- related to unexplained credits from Shree Krishna Supply Agency, as it was found that the amount was transferred from a partner's personal account for a legitimate purpose. The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection, affirming the CIT-(A)'s decisions on both issues. Case-Laws Income Tax Mon, 29 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343968