https://www.taxtmi.com/caselaws?id=370212 The Tribunal upheld the CIT(A)'s decision, ruling in favor of the assessee. The addition of Rs. 1,86,30,000/- under Section 68 of the Income Tax Act was deleted as the assessee successfully proved the identity, creditworthiness, and genuineness of transactions with BMPL. The Tribunal emphasized that the funds were transferred through legitimate banking channels, and the source of the credit was adequately explained. The revenue's appeal was dismissed, affirming the CIT(A)'s decision on November 9, 2018. en-us Fri, 09 Nov 2018 00:00:00 +0530 Wed, 10 Apr 2019 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370212 The Tribunal upheld the CIT(A)'s decision, ruling in favor of the assessee. The addition of Rs. 1,86,30,000/- under Section 68 of the Income Tax Act was deleted as the assessee successfully proved the identity, creditworthiness, and genuineness of transactions with BMPL. The Tribunal emphasized that the funds were transferred through legitimate banking channels, and the source of the credit was adequately explained. The revenue's appeal was dismissed, affirming the CIT(A)'s decision on November 9, 2018. Case-Laws Income Tax Fri, 09 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370212