https://www.taxtmi.com/caselaws?id=365511 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 16.95 crores under section 68 of the Income Tax Act, noting that the assessee provided sufficient evidence to prove the transactions' genuineness. The AO's failure to conduct a proper inquiry and the lack of material to challenge the additional evidence led to the Revenue's appeal dismissal. The Tribunal affirmed the CIT(A)'s order, emphasizing the importance of documentary evidence and proper adjudication in tax matters. en-us Mon, 09 Jul 2018 00:00:00 +0530 Fri, 17 Aug 2018 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365511 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 16.95 crores under section 68 of the Income Tax Act, noting that the assessee provided sufficient evidence to prove the transactions' genuineness. The AO's failure to conduct a proper inquiry and the lack of material to challenge the additional evidence led to the Revenue's appeal dismissal. The Tribunal affirmed the CIT(A)'s order, emphasizing the importance of documentary evidence and proper adjudication in tax matters. Case-Laws Income Tax Mon, 09 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365511