https://www.taxtmi.com/caselaws?id=380711 The Tribunal upheld the CIT(A)'s decision to delete the addition made under Section 68 of the Income Tax Act for unexplained cash credit. The Tribunal found that the assessee had provided substantial documentary evidence to establish the identity, creditworthiness, and genuineness of the transactions. It emphasized that additions cannot be made based on mere suspicion. The Tribunal dismissed the revenue's appeal, noting that the revenue failed to conduct thorough investigations to disprove the assessee's claims. The order was pronounced on 16/05/2019. en-us Thu, 16 May 2019 00:00:00 +0530 Sat, 25 May 2019 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380711 The Tribunal upheld the CIT(A)'s decision to delete the addition made under Section 68 of the Income Tax Act for unexplained cash credit. The Tribunal found that the assessee had provided substantial documentary evidence to establish the identity, creditworthiness, and genuineness of the transactions. It emphasized that additions cannot be made based on mere suspicion. The Tribunal dismissed the revenue's appeal, noting that the revenue failed to conduct thorough investigations to disprove the assessee's claims. The order was pronounced on 16/05/2019. Case-Laws Income Tax Thu, 16 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380711