https://www.taxtmi.com/caselaws?id=381081 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition of Rs. 120 crores under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transactions, while criticizing the Assessing Officer for lacking substantial evidence to support the addition. Consequently, both appeals of the revenue were dismissed, with the Tribunal issuing the final judgment on 20/02/2019. en-us Wed, 20 Feb 2019 00:00:00 +0530 Mon, 03 Jun 2019 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381081 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition of Rs. 120 crores under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transactions, while criticizing the Assessing Officer for lacking substantial evidence to support the addition. Consequently, both appeals of the revenue were dismissed, with the Tribunal issuing the final judgment on 20/02/2019. Case-Laws Income Tax Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381081