https://www.taxtmi.com/caselaws?id=364875 The High Court dismissed all five Appeals challenging the impugned order under Section 260A of the Income Tax Act for Assessment Years 2005-06 to 2011-12. The Court upheld the Tribunal's decision to delete additions under Section 68 of the Act, cash purchases, and unexplained expenses. The High Court found that the respondent had sufficiently established the genuineness of transactions and the identity and creditworthiness of shareholders. The Court also rejected the Revenue's arguments regarding cash purchases and unexplained expenses, stating that there was no concrete evidence to support their claims. en-us Mon, 30 Jul 2018 00:00:00 +0530 Mon, 06 Aug 2018 08:01:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364875 The High Court dismissed all five Appeals challenging the impugned order under Section 260A of the Income Tax Act for Assessment Years 2005-06 to 2011-12. The Court upheld the Tribunal's decision to delete additions under Section 68 of the Act, cash purchases, and unexplained expenses. The High Court found that the respondent had sufficiently established the genuineness of transactions and the identity and creditworthiness of shareholders. The Court also rejected the Revenue's arguments regarding cash purchases and unexplained expenses, stating that there was no concrete evidence to support their claims. Case-Laws Income Tax Mon, 30 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364875