https://www.taxtmi.com/caselaws?id=357647 The Tribunal upheld the CIT(A)'s decision to delete an addition of Rs. 67.50 crores under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the transaction involving M/s. Unitech Ltd. through various documents and confirmations. Despite doubts raised by the A.O. regarding discrepancies in the agreement, the Tribunal emphasized that the transaction was adequately supported by evidence and cited legal precedents to support its decision. The Revenue's appeal was dismissed, affirming the deletion of the addition under Section 68. en-us Fri, 23 Mar 2018 00:00:00 +0530 Mon, 18 Jun 2018 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357647 The Tribunal upheld the CIT(A)'s decision to delete an addition of Rs. 67.50 crores under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the transaction involving M/s. Unitech Ltd. through various documents and confirmations. Despite doubts raised by the A.O. regarding discrepancies in the agreement, the Tribunal emphasized that the transaction was adequately supported by evidence and cited legal precedents to support its decision. The Revenue's appeal was dismissed, affirming the deletion of the addition under Section 68. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357647