https://www.taxtmi.com/caselaws?id=393993 The Tribunal allowed the assessee's appeal, deleting the addition of Rs. 3,26,00,000 as unexplained cash credit under Section 68 of the Income Tax Act, 1961. The Tribunal found discrepancies in the evidence presented by the Revenue, noting that the cash payments allegedly made to the assessee were not properly linked and lacked corroboration. The Tribunal criticized the AO for insufficient investigation and upheld the assessee's contentions, ultimately ruling in favor of the assessee and allowing Ground No. 3 of the appeal for the assessment year 2007-08. en-us Sat, 14 Mar 2020 00:00:00 +0530 Fri, 27 Mar 2020 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393993 The Tribunal allowed the assessee's appeal, deleting the addition of Rs. 3,26,00,000 as unexplained cash credit under Section 68 of the Income Tax Act, 1961. The Tribunal found discrepancies in the evidence presented by the Revenue, noting that the cash payments allegedly made to the assessee were not properly linked and lacked corroboration. The Tribunal criticized the AO for insufficient investigation and upheld the assessee's contentions, ultimately ruling in favor of the assessee and allowing Ground No. 3 of the appeal for the assessment year 2007-08. Case-Laws Income Tax Sat, 14 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393993