https://www.taxtmi.com/caselaws?id=198365 The Revenue's appeal challenging the deletion of an addition of Rs. 5,12,50,000 under Section 68 of the Income Tax Act was dismissed. The CIT(A) upheld the deletion, citing the established identity, creditworthiness, and genuineness of the loan transactions supported by various documents. The Tribunal affirmed the decision, emphasizing the lack of contrary evidence from the tax authorities to disprove the legitimacy of the loans. en-us Tue, 27 Dec 2016 00:00:00 +0530 Tue, 30 Jan 2018 08:26:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198365 The Revenue's appeal challenging the deletion of an addition of Rs. 5,12,50,000 under Section 68 of the Income Tax Act was dismissed. The CIT(A) upheld the deletion, citing the established identity, creditworthiness, and genuineness of the loan transactions supported by various documents. The Tribunal affirmed the decision, emphasizing the lack of contrary evidence from the tax authorities to disprove the legitimacy of the loans. Case-Laws Income Tax Tue, 27 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198365