https://www.taxtmi.com/caselaws?id=398844 The Tribunal allowed the Revenue's appeal, directing the CIT(A) to re-decide the matter concerning the addition of Rs. 2.00 crores under section 68 of the Income Tax Act. The Tribunal emphasized the burden of proof on the assessee to establish the transaction's genuineness. As the CIT(A) lacked detailed reasons for deleting the addition, the matter was remanded for a fresh decision based on evidence and findings, ensuring compliance with the law. en-us Wed, 23 Sep 2020 00:00:00 +0530 Fri, 25 Sep 2020 09:52:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398844 The Tribunal allowed the Revenue's appeal, directing the CIT(A) to re-decide the matter concerning the addition of Rs. 2.00 crores under section 68 of the Income Tax Act. The Tribunal emphasized the burden of proof on the assessee to establish the transaction's genuineness. As the CIT(A) lacked detailed reasons for deleting the addition, the matter was remanded for a fresh decision based on evidence and findings, ensuring compliance with the law. Case-Laws Income Tax Wed, 23 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398844