https://www.taxtmi.com/caselaws?id=358067 The Tribunal allowed the appeals for Takshila Distributers Pvt. Ltd. and Rancho Place Estate Pvt. Ltd., deleting the additions made under Section 68 of the Income Tax Act for unexplained cash credits and on account of annual letting value of property under income from house property. The Tribunal found that the assessees had provided sufficient evidence to prove the genuineness of the transactions and that the Assessing Officer had failed to conduct further investigation to substantiate suspicions, leading to the deletions of the additions. en-us Thu, 01 Feb 2018 00:00:00 +0530 Thu, 05 Apr 2018 08:24:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358067 The Tribunal allowed the appeals for Takshila Distributers Pvt. Ltd. and Rancho Place Estate Pvt. Ltd., deleting the additions made under Section 68 of the Income Tax Act for unexplained cash credits and on account of annual letting value of property under income from house property. The Tribunal found that the assessees had provided sufficient evidence to prove the genuineness of the transactions and that the Assessing Officer had failed to conduct further investigation to substantiate suspicions, leading to the deletions of the additions. Case-Laws Income Tax Thu, 01 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358067