https://www.taxtmi.com/caselaws?id=354238 The Tribunal upheld the addition of Rs. 1.80 crores under Section 68 of the Income Tax Act, agreeing with the Assessing Officer and CIT(A) that the transactions were not genuine. The Tribunal dismissed the appeal, affirming that the assessee failed to prove the creditworthiness and genuineness of the transactions, justifying the addition as the assessee's unaccounted funds. The Tribunal emphasized the need to fulfill all conditions under Section 68 cumulatively and found no grounds to overturn the lower authorities' findings. en-us Wed, 10 Jan 2018 00:00:00 +0530 Sun, 21 Jan 2018 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354238 The Tribunal upheld the addition of Rs. 1.80 crores under Section 68 of the Income Tax Act, agreeing with the Assessing Officer and CIT(A) that the transactions were not genuine. The Tribunal dismissed the appeal, affirming that the assessee failed to prove the creditworthiness and genuineness of the transactions, justifying the addition as the assessee's unaccounted funds. The Tribunal emphasized the need to fulfill all conditions under Section 68 cumulatively and found no grounds to overturn the lower authorities' findings. Case-Laws Income Tax Wed, 10 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354238