https://www.taxtmi.com/caselaws?id=386822 The Tribunal upheld the CIT(A)'s decision that Section 68 applies to unexplained cash credits, including donations, and the assessee must prove the identity, genuineness, and creditworthiness of donors to claim exemptions under Sections 11 and 12 of the Income Tax Act, 1961. The Tribunal also clarified that Section 115BBC and Section 68 are mutually exclusive. The appeal was dismissed, affirming the assessment of unexplained cash credits and the requirement for satisfactory explanations for credit entries to claim exemptions. en-us Thu, 26 Sep 2019 00:00:00 +0530 Wed, 09 Oct 2019 07:59:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386822 The Tribunal upheld the CIT(A)'s decision that Section 68 applies to unexplained cash credits, including donations, and the assessee must prove the identity, genuineness, and creditworthiness of donors to claim exemptions under Sections 11 and 12 of the Income Tax Act, 1961. The Tribunal also clarified that Section 115BBC and Section 68 are mutually exclusive. The appeal was dismissed, affirming the assessment of unexplained cash credits and the requirement for satisfactory explanations for credit entries to claim exemptions. Case-Laws Income Tax Thu, 26 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386822