https://www.taxtmi.com/caselaws?id=373695 The court examined the term "genuineness" in the context of a dispute over a significant amount received by the assessee. The court questioned the explanation provided, citing discrepancies and lack of evidence. The judgment highlighted the absence of direct case law on the issue and issued a notice for further examination. The court aimed to clarify the application of Section 68 of the Income Tax Act in cases where transaction genuineness is disputed but money transfer is undisputed, showing a commitment to resolving legal ambiguities. en-us Thu, 20 Dec 2018 00:00:00 +0530 Fri, 18 Jan 2019 08:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373695 The court examined the term "genuineness" in the context of a dispute over a significant amount received by the assessee. The court questioned the explanation provided, citing discrepancies and lack of evidence. The judgment highlighted the absence of direct case law on the issue and issued a notice for further examination. The court aimed to clarify the application of Section 68 of the Income Tax Act in cases where transaction genuineness is disputed but money transfer is undisputed, showing a commitment to resolving legal ambiguities. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373695