https://www.taxtmi.com/caselaws?id=359426 The High Court upheld the decisions of the Commissioner of Income Tax (Appeal) and the Tribunal, finding that the appellant had provided sufficient evidence to support the genuineness of the loan creditors and that the additions made by the Assessing Officer were not justified. The Court emphasized the importance of considering the profit element for taxation purposes and upheld the revised income figures arrived at by the Commissioner of Income Tax (Appeal) and the Tribunal. en-us Tue, 24 Apr 2018 00:00:00 +0530 Mon, 30 Apr 2018 06:11:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359426 The High Court upheld the decisions of the Commissioner of Income Tax (Appeal) and the Tribunal, finding that the appellant had provided sufficient evidence to support the genuineness of the loan creditors and that the additions made by the Assessing Officer were not justified. The Court emphasized the importance of considering the profit element for taxation purposes and upheld the revised income figures arrived at by the Commissioner of Income Tax (Appeal) and the Tribunal. Case-Laws Income Tax Tue, 24 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359426