https://www.taxtmi.com/caselaws?id=351864 The High Court dismissed the appeal, upholding the Tribunal's decision to delete the addition of the disputed amount under Section 68 of the Income Tax Act. The Court emphasized the importance of establishing the identity, genuineness, and creditworthiness of transactions in tax assessments. It ruled in favor of the assessee, highlighting that the revenue failed to provide evidence challenging the genuineness of the cash credit entries. The judgment underscored the significance of evidence and material on record in determining the validity of such entries, ultimately supporting the decision of the lower authorities in favor of the assessee. en-us Tue, 28 Nov 2017 00:00:00 +0530 Tue, 07 Apr 2026 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351864 The High Court dismissed the appeal, upholding the Tribunal's decision to delete the addition of the disputed amount under Section 68 of the Income Tax Act. The Court emphasized the importance of establishing the identity, genuineness, and creditworthiness of transactions in tax assessments. It ruled in favor of the assessee, highlighting that the revenue failed to provide evidence challenging the genuineness of the cash credit entries. The judgment underscored the significance of evidence and material on record in determining the validity of such entries, ultimately supporting the decision of the lower authorities in favor of the assessee. Case-Laws Income Tax Tue, 28 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351864