https://www.taxtmi.com/caselaws?id=391627 The Tribunal dismissed the appeals of the assessee, upholding the additions made by the Assessing Officer under Section 68 of the Income Tax Act. The Tribunal found the AO's actions justified as the investor companies were non-existent and the assessee failed to provide adequate evidence. The CIT(A) also confirmed the AO's findings and enhanced the additions for certain assessment years. The Tribunal emphasized the importance of proving the legitimacy of transactions and upheld the lower authorities' decisions based on precedents from higher courts. en-us Tue, 14 Jan 2020 00:00:00 +0530 Mon, 03 Feb 2020 12:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391627 The Tribunal dismissed the appeals of the assessee, upholding the additions made by the Assessing Officer under Section 68 of the Income Tax Act. The Tribunal found the AO's actions justified as the investor companies were non-existent and the assessee failed to provide adequate evidence. The CIT(A) also confirmed the AO's findings and enhanced the additions for certain assessment years. The Tribunal emphasized the importance of proving the legitimacy of transactions and upheld the lower authorities' decisions based on precedents from higher courts. Case-Laws Income Tax Tue, 14 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391627