https://www.taxtmi.com/caselaws?id=388499 The Tribunal allowed the appeal of the assessee, setting aside the findings of the CIT(A) and deleting the addition of Rs. 64,00,000/- on account of alleged non-genuine unsecured loans from M/s. Navkar Diamond and M/s. Surya Diam. The Tribunal emphasized the importance of considering documentary evidence and not relying solely on retracted statements. The issue of reopening of assessment was rendered academic and was not adjudicated. en-us Thu, 31 Oct 2019 00:00:00 +0530 Sat, 16 Nov 2019 15:40:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388499 The Tribunal allowed the appeal of the assessee, setting aside the findings of the CIT(A) and deleting the addition of Rs. 64,00,000/- on account of alleged non-genuine unsecured loans from M/s. Navkar Diamond and M/s. Surya Diam. The Tribunal emphasized the importance of considering documentary evidence and not relying solely on retracted statements. The issue of reopening of assessment was rendered academic and was not adjudicated. Case-Laws Income Tax Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388499