https://www.taxtmi.com/caselaws?id=394980 The Tribunal ruled in favor of the assessee, finding that the addition under Section 68 for taxation of sale proceeds of tenancy rights as unexplained cash credit was unjustified. The Tribunal emphasized the adequacy of documentary evidence provided by the assessee to establish the genuineness of the transaction. Regarding the denial of exemption under Section 54F, the Tribunal directed the Assessing Officer to verify the investment in the new residential house and instructed to allow the exemption if the investment was confirmed, in line with the law. en-us Wed, 26 Feb 2020 00:00:00 +0530 Thu, 30 Apr 2020 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394980 The Tribunal ruled in favor of the assessee, finding that the addition under Section 68 for taxation of sale proceeds of tenancy rights as unexplained cash credit was unjustified. The Tribunal emphasized the adequacy of documentary evidence provided by the assessee to establish the genuineness of the transaction. Regarding the denial of exemption under Section 54F, the Tribunal directed the Assessing Officer to verify the investment in the new residential house and instructed to allow the exemption if the investment was confirmed, in line with the law. Case-Laws Income Tax Wed, 26 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394980