https://www.taxtmi.com/caselaws?id=395666 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the addition on account of unexplained cash credit under Section 68 of the Income Tax Act. The Tribunal also confirmed the rejection of the addition made against the clubbing of income under Section 56(2)(vii)(b) read with Section 64(1A) of the Act. The Tribunal agreed with the Commissioner of Income Tax (Appeals) that the assessee had provided sufficient documentation and correctly estimated the net profit, while also exempting the gift transaction from taxation under the relevant provisions. en-us Wed, 05 Feb 2020 00:00:00 +0530 Tue, 02 Jun 2020 09:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395666 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the addition on account of unexplained cash credit under Section 68 of the Income Tax Act. The Tribunal also confirmed the rejection of the addition made against the clubbing of income under Section 56(2)(vii)(b) read with Section 64(1A) of the Act. The Tribunal agreed with the Commissioner of Income Tax (Appeals) that the assessee had provided sufficient documentation and correctly estimated the net profit, while also exempting the gift transaction from taxation under the relevant provisions. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395666