https://www.taxtmi.com/caselaws?id=197966 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 of the Income Tax Act regarding capital introduced by a partner for the assessment year 2005-06. The Tribunal emphasized the Assessee's fulfillment of the burden of proof and the Revenue's failure to provide contrary evidence. The Tribunal concluded that the Assessee's explanation was satisfactory, and the Revenue could verify the credits with the partners if needed. As a result, the appeal by the Revenue was dismissed, affirming the deletion of the addition, in accordance with legal principles and precedents. en-us Mon, 13 Feb 2017 00:00:00 +0530 Fri, 19 Jan 2018 08:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197966 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 of the Income Tax Act regarding capital introduced by a partner for the assessment year 2005-06. The Tribunal emphasized the Assessee's fulfillment of the burden of proof and the Revenue's failure to provide contrary evidence. The Tribunal concluded that the Assessee's explanation was satisfactory, and the Revenue could verify the credits with the partners if needed. As a result, the appeal by the Revenue was dismissed, affirming the deletion of the addition, in accordance with legal principles and precedents. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197966