https://www.taxtmi.com/caselaws?id=197466 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 45 lakhs under Section 68 of the Income Tax Act. The CIT(A) found that the assessee had proven the genuineness of the transactions, shifting the burden to the Revenue to disprove the claims, which they failed to do. The Tribunal dismissed the Revenue's appeal, following precedents from the Hon'ble Bombay High Court emphasizing the burden of proof on the Revenue once the assessee establishes genuineness. en-us Thu, 21 Sep 2017 00:00:00 +0530 Mon, 08 Jan 2018 09:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197466 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 45 lakhs under Section 68 of the Income Tax Act. The CIT(A) found that the assessee had proven the genuineness of the transactions, shifting the burden to the Revenue to disprove the claims, which they failed to do. The Tribunal dismissed the Revenue's appeal, following precedents from the Hon'ble Bombay High Court emphasizing the burden of proof on the Revenue once the assessee establishes genuineness. Case-Laws Income Tax Thu, 21 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197466