https://www.taxtmi.com/caselaws?id=277885 The Allahabad High Court upheld the Income Tax Appellate Tribunal's decision to delete the addition of commission payments, finding them justified and aligned with business expediency. However, the Court set aside the Tribunal's decision regarding cash credits, emphasizing the need for the assessee to prove the creditworthiness of creditors. The judgment reinforces the requirement for the assessee to establish the identity, capacity, and genuineness of cash credits under Section 68 of the Income-tax Act. en-us Wed, 20 Sep 2006 00:00:00 +0530 Thu, 27 Dec 2018 17:11:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277885 The Allahabad High Court upheld the Income Tax Appellate Tribunal's decision to delete the addition of commission payments, finding them justified and aligned with business expediency. However, the Court set aside the Tribunal's decision regarding cash credits, emphasizing the need for the assessee to prove the creditworthiness of creditors. The judgment reinforces the requirement for the assessee to establish the identity, capacity, and genuineness of cash credits under Section 68 of the Income-tax Act. Case-Laws Income Tax Wed, 20 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277885