https://www.taxtmi.com/caselaws?id=367515 The appeal challenging the assessment of total income and the addition made under Section 68 of the Income Tax Act was dismissed due to the assessee's failure to discharge the burden of proof and provide satisfactory explanations for transactions with entities providing loans without security. The judgment emphasized the importance of understanding the ambit and scope of Section 68, requiring the assessee to meet the burden of proof to avoid additions to total income. The Court upheld the authorities' assessment, citing the lack of convincing evidence and background details provided by the assessee. en-us Mon, 17 Sep 2018 00:00:00 +0530 Fri, 21 Sep 2018 08:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367515 The appeal challenging the assessment of total income and the addition made under Section 68 of the Income Tax Act was dismissed due to the assessee's failure to discharge the burden of proof and provide satisfactory explanations for transactions with entities providing loans without security. The judgment emphasized the importance of understanding the ambit and scope of Section 68, requiring the assessee to meet the burden of proof to avoid additions to total income. The Court upheld the authorities' assessment, citing the lack of convincing evidence and background details provided by the assessee. Case-Laws Income Tax Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367515