https://www.taxtmi.com/caselaws?id=382213 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 8,02,81,790/- as unexplained cash credit 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, shifting the burden to the AO to disprove the evidence provided. The Tribunal emphasized the proper approvals for funds received through the FDI route and dismissed the revenue's appeal, ruling that no remand was necessary. en-us Wed, 19 Jun 2019 00:00:00 +0530 Thu, 27 Jun 2019 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382213 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 8,02,81,790/- as unexplained cash credit 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, shifting the burden to the AO to disprove the evidence provided. The Tribunal emphasized the proper approvals for funds received through the FDI route and dismissed the revenue's appeal, ruling that no remand was necessary. Case-Laws Income Tax Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382213