https://www.taxtmi.com/caselaws?id=375179 The ITAT Rajkot allowed the appeal, ruling in favor of the assessee and deleting the additions made under section 68 of the Income Tax Act for the assessment year 2010-11. The tribunal accepted the explanations provided by the assessee regarding the unexplained credits, emphasizing the need for a satisfactory explanation. Despite concerns raised by the AO and CIT(A), the tribunal found the evidence presented by the assessee regarding the transactions with Vibrant Equities and Shri Arvindbhai M. Gondaliya to be genuine and credible, leading to a favorable outcome for the assessee. en-us Wed, 13 Feb 2019 00:00:00 +0530 Fri, 15 Feb 2019 20:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375179 The ITAT Rajkot allowed the appeal, ruling in favor of the assessee and deleting the additions made under section 68 of the Income Tax Act for the assessment year 2010-11. The tribunal accepted the explanations provided by the assessee regarding the unexplained credits, emphasizing the need for a satisfactory explanation. Despite concerns raised by the AO and CIT(A), the tribunal found the evidence presented by the assessee regarding the transactions with Vibrant Equities and Shri Arvindbhai M. Gondaliya to be genuine and credible, leading to a favorable outcome for the assessee. Case-Laws Income Tax Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375179