https://www.taxtmi.com/caselaws?id=344166 The Tribunal partially allowed the appeal, deleting the addition of Rs. 57,00,000 and confirming the addition of Rs. 12,48,000 under Section 69A of the Income Tax Act. The Tribunal found that the appellant satisfactorily proved the identity, genuineness, and creditworthiness of funds received from certain parties but failed to do so for the remaining amount. The decision did not address the application of the peak theory, interest charges, or penalty proceedings, implying no contestation on these issues. en-us Thu, 25 May 2017 00:00:00 +0530 Sat, 10 Jun 2017 05:44:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344166 The Tribunal partially allowed the appeal, deleting the addition of Rs. 57,00,000 and confirming the addition of Rs. 12,48,000 under Section 69A of the Income Tax Act. The Tribunal found that the appellant satisfactorily proved the identity, genuineness, and creditworthiness of funds received from certain parties but failed to do so for the remaining amount. The decision did not address the application of the peak theory, interest charges, or penalty proceedings, implying no contestation on these issues. Case-Laws Income Tax Thu, 25 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344166