https://www.taxtmi.com/caselaws?id=272385 The tribunal upheld the Assessing Officer's decision to add Rs. 15,00,000 as unexplained cash credit under Section 68 of the Income Tax Act, 1961, due to lack of evidence supporting the genuineness of the loan. Additionally, the tribunal supported the AO's inclusion of Rs. 18,30,000 under Section 69C as unexplained expenditure, as the assessee failed to substantiate the loan and repayment. The tribunal overturned the first appellate authority's deletion of these additions, reinstating both amounts in favor of the Revenue. en-us Mon, 24 Feb 2014 00:00:00 +0530 Wed, 02 May 2018 06:19:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272385 The tribunal upheld the Assessing Officer's decision to add Rs. 15,00,000 as unexplained cash credit under Section 68 of the Income Tax Act, 1961, due to lack of evidence supporting the genuineness of the loan. Additionally, the tribunal supported the AO's inclusion of Rs. 18,30,000 under Section 69C as unexplained expenditure, as the assessee failed to substantiate the loan and repayment. The tribunal overturned the first appellate authority's deletion of these additions, reinstating both amounts in favor of the Revenue. Case-Laws Income Tax Mon, 24 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272385