https://www.taxtmi.com/caselaws?id=392780 The Tribunal ruled in favor of the assessee, holding that the additions made under Section 68 of the Income Tax Act for the assessment years were unjustified. The Tribunal found that the assessee had adequately substantiated the identity and creditworthiness of the investor companies and the genuineness of the transactions, leading to the direction for deletion of the said additions. The Tribunal emphasized the importance of confronting adverse materials to the assessee and highlighted the acceptance of similar transactions in prior and subsequent years. en-us Mon, 10 Feb 2020 00:00:00 +0530 Mon, 18 May 2020 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392780 The Tribunal ruled in favor of the assessee, holding that the additions made under Section 68 of the Income Tax Act for the assessment years were unjustified. The Tribunal found that the assessee had adequately substantiated the identity and creditworthiness of the investor companies and the genuineness of the transactions, leading to the direction for deletion of the said additions. The Tribunal emphasized the importance of confronting adverse materials to the assessee and highlighted the acceptance of similar transactions in prior and subsequent years. Case-Laws Income Tax Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392780