https://www.taxtmi.com/caselaws?id=395456 The Tribunal upheld the AO's and CIT(A)'s actions in adding Rs. 19,50,000 as unexplained cash credits under Section 68 of the Income Tax Act. It found the transactions involving the sale of shares to be fictitious, lacking in genuineness and creditworthiness. The Tribunal dismissed the appeal, stating the assessee failed to provide credible evidence, and the principles of natural justice were not violated. The order was pronounced on 19/05/2020. en-us Tue, 19 May 2020 00:00:00 +0530 Fri, 22 May 2020 13:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395456 The Tribunal upheld the AO's and CIT(A)'s actions in adding Rs. 19,50,000 as unexplained cash credits under Section 68 of the Income Tax Act. It found the transactions involving the sale of shares to be fictitious, lacking in genuineness and creditworthiness. The Tribunal dismissed the appeal, stating the assessee failed to provide credible evidence, and the principles of natural justice were not violated. The order was pronounced on 19/05/2020. Case-Laws Income Tax Tue, 19 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395456