https://www.taxtmi.com/caselaws?id=381521 The Tribunal allowed the appeal filed by the assessee and deleted the addition of Rs. 4.50 crores under Section 68 of the Income-tax Act, 1961. The Tribunal found that the assessee had provided sufficient evidence to establish the identity, genuineness, and creditworthiness of the lender companies, and that the Assessing Officer had not adequately considered the financial statements and other evidence provided. The Tribunal also questioned the reliance on certain reports without allowing cross-examination. Consequently, the Tribunal directed the deletion of the addition and ruled in favor of the assessee. en-us Mon, 03 Jun 2019 00:00:00 +0530 Wed, 12 Jun 2019 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381521 The Tribunal allowed the appeal filed by the assessee and deleted the addition of Rs. 4.50 crores under Section 68 of the Income-tax Act, 1961. The Tribunal found that the assessee had provided sufficient evidence to establish the identity, genuineness, and creditworthiness of the lender companies, and that the Assessing Officer had not adequately considered the financial statements and other evidence provided. The Tribunal also questioned the reliance on certain reports without allowing cross-examination. Consequently, the Tribunal directed the deletion of the addition and ruled in favor of the assessee. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381521