https://www.taxtmi.com/caselaws?id=290347 The Tribunal upheld the ld. CIT(A)'s decision to add unexplained cash credits u/s 68 of the Income Tax Act, 1961, due to the assessee's failure to provide creditor confirmations. Despite the assessee's alternative proposal to adjust closing stock, the Tribunal dismissed the appeal, citing the importance of proving transaction genuineness. The decision aligned with the precedent established by the Hon'ble Delhi High Court, leading to the confirmation of the ld. CIT(A)'s order. en-us Fri, 28 Sep 2012 00:00:00 +0530 Mon, 21 Sep 2020 17:43:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290347 The Tribunal upheld the ld. CIT(A)'s decision to add unexplained cash credits u/s 68 of the Income Tax Act, 1961, due to the assessee's failure to provide creditor confirmations. Despite the assessee's alternative proposal to adjust closing stock, the Tribunal dismissed the appeal, citing the importance of proving transaction genuineness. The decision aligned with the precedent established by the Hon'ble Delhi High Court, leading to the confirmation of the ld. CIT(A)'s order. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290347