https://www.taxtmi.com/caselaws?id=282659 The ITAT Mumbai overturned the Ld CIT(A)'s decision to add Rs. 100 lakhs under section 68 of the Act, finding the AO's basis flawed and accepting the genuineness of M/s Basant Marketing's transactions. The ITAT directed deletion of the addition, as the assessee met the burden of proof. The challenge to the assessment's reopening was not addressed due to the deletion of the addition, rendering the issue moot. en-us Wed, 28 Feb 2018 00:00:00 +0530 Sun, 18 Aug 2019 08:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282659 The ITAT Mumbai overturned the Ld CIT(A)'s decision to add Rs. 100 lakhs under section 68 of the Act, finding the AO's basis flawed and accepting the genuineness of M/s Basant Marketing's transactions. The ITAT directed deletion of the addition, as the assessee met the burden of proof. The challenge to the assessment's reopening was not addressed due to the deletion of the addition, rendering the issue moot. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282659