https://www.taxtmi.com/caselaws?id=367290 The ITAT dismissed the Revenue's appeals, affirming the CIT(A)'s decision to delete the additions made under Section 68 of the IT Act. The ITAT held that the assessee had sufficiently discharged its onus by providing comprehensive documentary evidence, and the AO failed to conduct further inquiries to disprove it. The ITAT emphasized that the AO's dissatisfaction must be based on relevant facts and evidence rather than mere suspicion, citing judicial precedents supporting the assessee's position. en-us Fri, 14 Sep 2018 00:00:00 +0530 Thu, 15 Nov 2018 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367290 The ITAT dismissed the Revenue's appeals, affirming the CIT(A)'s decision to delete the additions made under Section 68 of the IT Act. The ITAT held that the assessee had sufficiently discharged its onus by providing comprehensive documentary evidence, and the AO failed to conduct further inquiries to disprove it. The ITAT emphasized that the AO's dissatisfaction must be based on relevant facts and evidence rather than mere suspicion, citing judicial precedents supporting the assessee's position. Case-Laws Income Tax Fri, 14 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367290