https://www.taxtmi.com/caselaws?id=348955 The High Court upheld the Tribunal's decision to add Rs. 96.60 lakhs under section 68 of the Income Tax Act for booking advances, citing insufficient documentation and failure to prove the genuineness of transactions. The Court also noted a lack of findings on an additional Rs. 26.32 lakhs, prompting further examination. The judgment underscores the need for proper documentation to support transactions and comply with statutory requirements to avoid unexplained credit additions. en-us Tue, 26 Sep 2017 00:00:00 +0530 Wed, 04 Oct 2017 09:50:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348955 The High Court upheld the Tribunal's decision to add Rs. 96.60 lakhs under section 68 of the Income Tax Act for booking advances, citing insufficient documentation and failure to prove the genuineness of transactions. The Court also noted a lack of findings on an additional Rs. 26.32 lakhs, prompting further examination. The judgment underscores the need for proper documentation to support transactions and comply with statutory requirements to avoid unexplained credit additions. Case-Laws Income Tax Tue, 26 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348955