https://www.taxtmi.com/caselaws?id=360189 The Appellate Tribunal ruled in favor of the appellant, deleting the disputed addition of an unexplained loan under section 68. The tribunal found that the appellant had provided substantial evidence to establish the creditworthiness of the loan, meeting the burden of proof. Emphasizing the importance of proper appreciation of evidence and legal precedents, the tribunal held that additions should have been made in the shareholders' hands, not the appellant's. The tribunal concluded that the addition was unjustified, allowing the appeal and pronouncing the order in favor of the appellant. en-us Wed, 09 May 2018 00:00:00 +0530 Fri, 11 May 2018 08:38:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360189 The Appellate Tribunal ruled in favor of the appellant, deleting the disputed addition of an unexplained loan under section 68. The tribunal found that the appellant had provided substantial evidence to establish the creditworthiness of the loan, meeting the burden of proof. Emphasizing the importance of proper appreciation of evidence and legal precedents, the tribunal held that additions should have been made in the shareholders' hands, not the appellant's. The tribunal concluded that the addition was unjustified, allowing the appeal and pronouncing the order in favor of the appellant. Case-Laws Income Tax Wed, 09 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360189