https://www.taxtmi.com/caselaws?id=384735 The Tribunal upheld the additions of unexplained cash credit and hawala purchases in the case. The assessee, a textile company, failed to prove the genuineness of transactions related to forfeited shares and alleged purchases from suspicious dealers. Despite opportunities, the assessee did not provide satisfactory explanations, leading to the rejection of their appeal. The Tribunal emphasized the lack of conclusive evidence and upheld the Assessing Officer's decisions, citing non-compliance and insufficient details provided by the assessee. en-us Wed, 24 Jul 2019 00:00:00 +0530 Thu, 22 Aug 2019 07:44:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384735 The Tribunal upheld the additions of unexplained cash credit and hawala purchases in the case. The assessee, a textile company, failed to prove the genuineness of transactions related to forfeited shares and alleged purchases from suspicious dealers. Despite opportunities, the assessee did not provide satisfactory explanations, leading to the rejection of their appeal. The Tribunal emphasized the lack of conclusive evidence and upheld the Assessing Officer's decisions, citing non-compliance and insufficient details provided by the assessee. Case-Laws Income Tax Wed, 24 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384735