https://www.taxtmi.com/caselaws?id=394858 The court held in favor of the assessee, ruling that the addition under Section 68 of the Income Tax Act, 1961, could not be justified in the firm's hands as the partners had demonstrated agricultural income in their personal returns, accepted by the Revenue. The court found that the firm adequately explained the source of the credits, shifting the burden to the partners. Consequently, the addition was not upheld against the firm, and the appeal was allowed. en-us Fri, 24 Apr 2020 00:00:00 +0530 Tue, 31 Mar 2026 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394858 The court held in favor of the assessee, ruling that the addition under Section 68 of the Income Tax Act, 1961, could not be justified in the firm's hands as the partners had demonstrated agricultural income in their personal returns, accepted by the Revenue. The court found that the firm adequately explained the source of the credits, shifting the burden to the partners. Consequently, the addition was not upheld against the firm, and the appeal was allowed. Case-Laws Income Tax Fri, 24 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394858