https://www.taxtmi.com/caselaws?id=284141 The tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 1,00,00,000 under section 68 of the Income Tax Act. The CIT(A) emphasized the assessee's fulfillment of the burden of proof regarding the identity, creditworthiness, and genuineness of the transaction, supported by documentary evidence. The tribunal criticized the Assessing Officer's reliance on external information over the provided evidence and affirmed the application of legal precedents in favor of the assessee. en-us Wed, 20 Feb 2019 00:00:00 +0530 Sun, 03 Nov 2019 18:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284141 The tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 1,00,00,000 under section 68 of the Income Tax Act. The CIT(A) emphasized the assessee's fulfillment of the burden of proof regarding the identity, creditworthiness, and genuineness of the transaction, supported by documentary evidence. The tribunal criticized the Assessing Officer's reliance on external information over the provided evidence and affirmed the application of legal precedents in favor of the assessee. Case-Laws Income Tax Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284141