https://www.taxtmi.com/caselaws?id=378925 The Appellate Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the addition of Rs. 8,20,000 under Sec.68 of the Income Tax Act. The Tribunal found that the appellant had provided relevant documents establishing the source of the loan, meeting the onus required under Sec.68. Emphasizing that the appellant was not obligated to prove the source of the source of credit, only the source in their books, the Tribunal deemed the addition unjustified due to lack of verification by the authorities. en-us Fri, 01 Feb 2019 00:00:00 +0530 Wed, 24 Apr 2019 09:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378925 The Appellate Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the addition of Rs. 8,20,000 under Sec.68 of the Income Tax Act. The Tribunal found that the appellant had provided relevant documents establishing the source of the loan, meeting the onus required under Sec.68. Emphasizing that the appellant was not obligated to prove the source of the source of credit, only the source in their books, the Tribunal deemed the addition unjustified due to lack of verification by the authorities. Case-Laws Income Tax Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378925