https://www.taxtmi.com/caselaws?id=193166 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 17,50,000. The Tribunal found that the assessee had sufficiently proven the genuineness of the transaction, including the identity of the purchasers and the creditworthiness, thus shifting the burden of proof. Criticizing the lower authorities for unjustly rejecting the explanation, the Tribunal emphasized the importance of considering evidence and applying the test of human probabilities. The decision was based on a comprehensive analysis of the evidence and legal principles. en-us Wed, 10 Feb 2016 00:00:00 +0530 Sat, 15 Jul 2017 15:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193166 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 17,50,000. The Tribunal found that the assessee had sufficiently proven the genuineness of the transaction, including the identity of the purchasers and the creditworthiness, thus shifting the burden of proof. Criticizing the lower authorities for unjustly rejecting the explanation, the Tribunal emphasized the importance of considering evidence and applying the test of human probabilities. The decision was based on a comprehensive analysis of the evidence and legal principles. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193166