https://www.taxtmi.com/caselaws?id=362823 The Tribunal dismissed the revenue's appeal due to the tax effect being below Rs. 10 lakhs and upheld the addition of Rs. 15 lakhs under section 68 for the assessee. The Tribunal directed the AO to thoroughly verify the identity of the company, examine the source of credit, and provide the opportunity for the concerned person to be produced for examination. The case was restored to the AO's file for proper verification, emphasizing the importance of due process and allowing the assessee's grounds for restoration for further examination. Ultimately, the revenue's appeal was dismissed, and the assessee's appeal was allowed for statistical purposes. en-us Mon, 02 Jul 2018 00:00:00 +0530 Wed, 04 Jul 2018 09:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362823 The Tribunal dismissed the revenue's appeal due to the tax effect being below Rs. 10 lakhs and upheld the addition of Rs. 15 lakhs under section 68 for the assessee. The Tribunal directed the AO to thoroughly verify the identity of the company, examine the source of credit, and provide the opportunity for the concerned person to be produced for examination. The case was restored to the AO's file for proper verification, emphasizing the importance of due process and allowing the assessee's grounds for restoration for further examination. Ultimately, the revenue's appeal was dismissed, and the assessee's appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362823