https://www.taxtmi.com/caselaws?id=362738 The Tribunal concluded that the Assessing Officer's addition under Section 68 of the Income Tax Act was based on mere suspicion without concrete evidence. The evidence provided by the assessee was deemed sufficient to prove the genuineness of the transactions. Consequently, the Tribunal directed the AO to delete the addition, allowing the appeal of the assessee. The judgment emphasized the importance of concrete evidence over suspicion and upheld legal principles established in previous cases. en-us Wed, 27 Jun 2018 00:00:00 +0530 Mon, 02 Jul 2018 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362738 The Tribunal concluded that the Assessing Officer's addition under Section 68 of the Income Tax Act was based on mere suspicion without concrete evidence. The evidence provided by the assessee was deemed sufficient to prove the genuineness of the transactions. Consequently, the Tribunal directed the AO to delete the addition, allowing the appeal of the assessee. The judgment emphasized the importance of concrete evidence over suspicion and upheld legal principles established in previous cases. Case-Laws Income Tax Wed, 27 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362738