https://www.taxtmi.com/caselaws?id=387498 The Tribunal dismissed all three appeals filed by the Revenue, confirming the CIT(A)'s order to delete the additions made by the Assessing Officer under Section 68 of the Income Tax Act for unexplained cash credits. The Tribunal emphasized that the identity, creditworthiness, and genuineness of the transactions had been sufficiently established by the assessee, and the Assessing Officer's suspicion alone could not justify the additions. The decision highlights the significance of concrete evidence in such cases, leading to the rejection of the Revenue's challenges. en-us Fri, 20 Sep 2019 00:00:00 +0530 Thu, 24 Oct 2019 08:52:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387498 The Tribunal dismissed all three appeals filed by the Revenue, confirming the CIT(A)'s order to delete the additions made by the Assessing Officer under Section 68 of the Income Tax Act for unexplained cash credits. The Tribunal emphasized that the identity, creditworthiness, and genuineness of the transactions had been sufficiently established by the assessee, and the Assessing Officer's suspicion alone could not justify the additions. The decision highlights the significance of concrete evidence in such cases, leading to the rejection of the Revenue's challenges. Case-Laws Income Tax Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387498