https://www.taxtmi.com/caselaws?id=375910 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the addition of undisclosed income under section 68 of the IT Act. The Tribunal considered factors such as the demise of the loan creditors and the return of the loans in subsequent years, leading to the conclusion that the addition was unjustified. The burden of proof was emphasized, with the Tribunal finding merit in the arguments presented by the assessee's counsel, ultimately ruling in favor of the assessee. en-us Mon, 25 Feb 2019 00:00:00 +0530 Thu, 28 Feb 2019 06:44:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375910 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the addition of undisclosed income under section 68 of the IT Act. The Tribunal considered factors such as the demise of the loan creditors and the return of the loans in subsequent years, leading to the conclusion that the addition was unjustified. The burden of proof was emphasized, with the Tribunal finding merit in the arguments presented by the assessee's counsel, ultimately ruling in favor of the assessee. Case-Laws Income Tax Mon, 25 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375910