https://www.taxtmi.com/caselaws?id=380402 The Tribunal upheld the deletion of the addition made under Section 68 of the Income Tax Act regarding unexplained credits received, finding the credits genuine and properly explained by the Assessees. The High Court supported the decision, emphasizing that the Assessees substantiated the sources of the credits for obtaining credit facility. The High Court dismissed the Revenue's appeals, concluding that the lower authorities' findings were reasonable and did not raise substantial legal questions. en-us Mon, 01 Apr 2019 00:00:00 +0530 Fri, 13 Aug 2021 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380402 The Tribunal upheld the deletion of the addition made under Section 68 of the Income Tax Act regarding unexplained credits received, finding the credits genuine and properly explained by the Assessees. The High Court supported the decision, emphasizing that the Assessees substantiated the sources of the credits for obtaining credit facility. The High Court dismissed the Revenue's appeals, concluding that the lower authorities' findings were reasonable and did not raise substantial legal questions. Case-Laws Income Tax Mon, 01 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380402