https://www.taxtmi.com/caselaws?id=354408 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition of Rs. 1.50 crores under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transaction with comprehensive documentation. Previous similar cases were referenced, emphasizing the assessee's fulfillment of the onus to prove cash credits. The Revenue's lack of substantial evidence to refute the documentation led to the dismissal of their appeal, with the order pronounced on 24-01-2018. en-us Wed, 24 Jan 2018 00:00:00 +0530 Sat, 27 Jan 2018 08:20:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354408 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition of Rs. 1.50 crores under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transaction with comprehensive documentation. Previous similar cases were referenced, emphasizing the assessee's fulfillment of the onus to prove cash credits. The Revenue's lack of substantial evidence to refute the documentation led to the dismissal of their appeal, with the order pronounced on 24-01-2018. Case-Laws Income Tax Wed, 24 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354408