https://www.taxtmi.com/caselaws?id=283509 The ITAT upheld the addition of Rs. 73,77,806 under Section 68 and denied the exemption under Section 10(38), concluding that the transactions were non-genuine and part of an accommodation entry scheme. The appeal of the assessee was dismissed, affirming the orders of the lower authorities. The decision was based on substantial evidence and aligned with various judicial pronouncements, reinforcing the need for genuine and credible transactions to claim tax exemptions. en-us Thu, 25 Jul 2019 00:00:00 +0530 Thu, 26 Sep 2019 11:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283509 The ITAT upheld the addition of Rs. 73,77,806 under Section 68 and denied the exemption under Section 10(38), concluding that the transactions were non-genuine and part of an accommodation entry scheme. The appeal of the assessee was dismissed, affirming the orders of the lower authorities. The decision was based on substantial evidence and aligned with various judicial pronouncements, reinforcing the need for genuine and credible transactions to claim tax exemptions. Case-Laws Income Tax Thu, 25 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283509