https://www.taxtmi.com/caselaws?id=377379 The Tribunal dismissed the assessee's appeal and upheld the addition of Rs. 5 lakhs under Section 68 of the Income Tax Act. The decision was based on the lack of credible evidence supporting the loan's genuineness and the lender's financial capacity. The Tribunal affirmed the CIT(A)'s ruling, emphasizing the insufficiency of proof provided by the assessee. The order was pronounced on 26/03/2019. en-us Tue, 26 Mar 2019 00:00:00 +0530 Thu, 28 Mar 2019 07:08:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377379 The Tribunal dismissed the assessee's appeal and upheld the addition of Rs. 5 lakhs under Section 68 of the Income Tax Act. The decision was based on the lack of credible evidence supporting the loan's genuineness and the lender's financial capacity. The Tribunal affirmed the CIT(A)'s ruling, emphasizing the insufficiency of proof provided by the assessee. The order was pronounced on 26/03/2019. Case-Laws Income Tax Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377379