https://www.taxtmi.com/caselaws?id=365508 The Tribunal allowed the assessee's appeal, deleting the additions of Rs. 6 crores under Section 68 and Rs. 12 lakhs under Section 69C of the I.T. Act. The Tribunal emphasized the importance of thorough inquiries by the Revenue and criticized reliance on assumptions or unverified reports. The assessee successfully demonstrated the identity, creditworthiness, and genuineness of the transactions, leading to the unjustified nature of the additions being established. en-us Fri, 10 Aug 2018 00:00:00 +0530 Thu, 15 Nov 2018 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365508 The Tribunal allowed the assessee's appeal, deleting the additions of Rs. 6 crores under Section 68 and Rs. 12 lakhs under Section 69C of the I.T. Act. The Tribunal emphasized the importance of thorough inquiries by the Revenue and criticized reliance on assumptions or unverified reports. The assessee successfully demonstrated the identity, creditworthiness, and genuineness of the transactions, leading to the unjustified nature of the additions being established. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365508