https://www.taxtmi.com/caselaws?id=400692 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order to delete the addition of Rs. 4,83,50,000/- to the assessee's income. The Tribunal found that the assessee had adequately demonstrated the identity, creditworthiness, and genuineness of the transactions, thereby refuting the Assessing Officer's addition under section 68 of the Income Tax Act. The Tribunal also acknowledged procedural delays caused by the COVID-19 pandemic, justifying the extended timeline for issuing the order. en-us Wed, 15 Jul 2020 00:00:00 +0530 Fri, 13 Nov 2020 20:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400692 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order to delete the addition of Rs. 4,83,50,000/- to the assessee's income. The Tribunal found that the assessee had adequately demonstrated the identity, creditworthiness, and genuineness of the transactions, thereby refuting the Assessing Officer's addition under section 68 of the Income Tax Act. The Tribunal also acknowledged procedural delays caused by the COVID-19 pandemic, justifying the extended timeline for issuing the order. Case-Laws Income Tax Wed, 15 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400692