https://www.taxtmi.com/caselaws?id=398921 The Tribunal allowed the Assessee's appeal, overturning the addition under section 68 of the Income Tax Act. The Tribunal relied on evidence from a previous assessment year to establish the genuineness of the transaction involving a loan from the son-in-law, leading to the deletion of the amount added as unexplained income. The decision emphasized the acknowledgment of the son-in-law's creditworthiness in the earlier assessment, supporting the Assessee's position and ruling in favor of the Assessee. en-us Fri, 03 Jul 2020 00:00:00 +0530 Mon, 28 Sep 2020 08:44:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398921 The Tribunal allowed the Assessee's appeal, overturning the addition under section 68 of the Income Tax Act. The Tribunal relied on evidence from a previous assessment year to establish the genuineness of the transaction involving a loan from the son-in-law, leading to the deletion of the amount added as unexplained income. The decision emphasized the acknowledgment of the son-in-law's creditworthiness in the earlier assessment, supporting the Assessee's position and ruling in favor of the Assessee. Case-Laws Income Tax Fri, 03 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398921