https://www.taxtmi.com/caselaws?id=372643 The Tribunal overturned the addition made by the Assessing Officer and CIT(A) under sections 68 and 69C of the Income Tax Act for Assessment Year 2014-15. The Tribunal emphasized the importance of evidence-based decision-making and ruled in favor of the assessee, deleting the additions due to lack of concrete evidence against the genuineness of the transactions. The decision highlighted the inadequacy of relying on general reports without specific details and reiterated the significance of factual evidence in such tax matters. en-us Fri, 16 Nov 2018 00:00:00 +0530 Thu, 27 Dec 2018 15:58:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372643 The Tribunal overturned the addition made by the Assessing Officer and CIT(A) under sections 68 and 69C of the Income Tax Act for Assessment Year 2014-15. The Tribunal emphasized the importance of evidence-based decision-making and ruled in favor of the assessee, deleting the additions due to lack of concrete evidence against the genuineness of the transactions. The decision highlighted the inadequacy of relying on general reports without specific details and reiterated the significance of factual evidence in such tax matters. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372643