https://www.taxtmi.com/caselaws?id=196581 The Tribunal upheld the deletion of an addition of ? 7.02 crores made under section 69B of the Income-tax Act, 1961 for the assessment year 2012-13. The Revenue's appeal against the deletion was dismissed as the Tribunal found that the assessee adequately explained the source of payments totaling ? 22 crores used to purchase a company, with ? 19 crores through banking channels and the remaining ? 3 crores from own savings, supported by detailed payment records. The Tribunal concluded that there was no need to interfere with the CIT(A)'s decision, affirming the deletion of the addition. en-us Wed, 26 Oct 2016 00:00:00 +0530 Thu, 07 Dec 2017 21:40:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196581 The Tribunal upheld the deletion of an addition of ? 7.02 crores made under section 69B of the Income-tax Act, 1961 for the assessment year 2012-13. The Revenue's appeal against the deletion was dismissed as the Tribunal found that the assessee adequately explained the source of payments totaling ? 22 crores used to purchase a company, with ? 19 crores through banking channels and the remaining ? 3 crores from own savings, supported by detailed payment records. The Tribunal concluded that there was no need to interfere with the CIT(A)'s decision, affirming the deletion of the addition. Case-Laws Income Tax Wed, 26 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196581