https://www.taxtmi.com/caselaws?id=396024 The Tribunal partly allowed the appeal, ruling in favor of the assessee regarding the validity of the reassessment proceedings and the merits of the case. The Tribunal found that the assessee had fulfilled the onus of proving the identity, creditworthiness, and genuineness of the transactions under section 68. Due to the lack of evidence indicating cash exchanges between the assessee and the investor entities, the impugned additions under section 68 were deleted. en-us Wed, 04 Mar 2020 00:00:00 +0530 Thu, 18 Jun 2020 10:49:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396024 The Tribunal partly allowed the appeal, ruling in favor of the assessee regarding the validity of the reassessment proceedings and the merits of the case. The Tribunal found that the assessee had fulfilled the onus of proving the identity, creditworthiness, and genuineness of the transactions under section 68. Due to the lack of evidence indicating cash exchanges between the assessee and the investor entities, the impugned additions under section 68 were deleted. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396024