https://www.taxtmi.com/caselaws?id=196415 The Tribunal allowed the assessee's appeal, ruling that the addition of Rs. 20 lakh under Section 68 of the Income Tax Act was not justified. The Tribunal found that the assessee had proven the identity, creditworthiness, and genuineness of the transactions, shifting the onus to the Revenue, which failed to disprove the claims. The Tribunal emphasized the importance of natural justice principles, citing judicial precedents supporting the assessee's position. Consequently, the Tribunal reversed the Commissioner of Income Tax (Appeals) order and partly allowed the assessee's appeal. en-us Fri, 21 Apr 2017 00:00:00 +0530 Wed, 29 Nov 2017 21:26:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196415 The Tribunal allowed the assessee's appeal, ruling that the addition of Rs. 20 lakh under Section 68 of the Income Tax Act was not justified. The Tribunal found that the assessee had proven the identity, creditworthiness, and genuineness of the transactions, shifting the onus to the Revenue, which failed to disprove the claims. The Tribunal emphasized the importance of natural justice principles, citing judicial precedents supporting the assessee's position. Consequently, the Tribunal reversed the Commissioner of Income Tax (Appeals) order and partly allowed the assessee's appeal. Case-Laws Income Tax Fri, 21 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196415