https://www.taxtmi.com/caselaws?id=377224 The Tribunal allowed both appeals concerning challenges to orders for the assessment year 2011-12. In the first case, the addition of Rs. 10,18,986 as unexplained cash credit under section 68 was deemed unjustified as the assessee provided evidence establishing the genuineness of loan transactions. Similarly, in the second case, the addition of an unsecured loan of Rs. 13 lakh was deleted due to insufficient inquiry into the transaction's genuineness. The Tribunal stressed the importance of thorough investigation and concrete evidence before adding unexplained cash credits under section 68 of the Income Tax Act. en-us Thu, 31 Jan 2019 00:00:00 +0530 Tue, 26 Mar 2019 06:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377224 The Tribunal allowed both appeals concerning challenges to orders for the assessment year 2011-12. In the first case, the addition of Rs. 10,18,986 as unexplained cash credit under section 68 was deemed unjustified as the assessee provided evidence establishing the genuineness of loan transactions. Similarly, in the second case, the addition of an unsecured loan of Rs. 13 lakh was deleted due to insufficient inquiry into the transaction's genuineness. The Tribunal stressed the importance of thorough investigation and concrete evidence before adding unexplained cash credits under section 68 of the Income Tax Act. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377224