https://www.taxtmi.com/caselaws?id=390089 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 of the Income Tax Act, confirming that the transactions were not genuine business activities but accommodation entries. Additionally, the Tribunal agreed with assessing income as "income from other sources" instead of "business income" and upheld the disallowances and additions made by the AO, as modified by the CIT(A), dismissing all appeals. en-us Wed, 18 Dec 2019 00:00:00 +0530 Mon, 23 Dec 2019 15:58:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390089 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 of the Income Tax Act, confirming that the transactions were not genuine business activities but accommodation entries. Additionally, the Tribunal agreed with assessing income as "income from other sources" instead of "business income" and upheld the disallowances and additions made by the AO, as modified by the CIT(A), dismissing all appeals. Case-Laws Income Tax Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390089