https://www.taxtmi.com/caselaws?id=402060 The Tribunal dismissed the revenue's appeal regarding the disallowance of Rs. 22,18,88,782/- on account of unverifiable purchases, citing lack of distinguishing facts and relying on prior decisions. However, the Tribunal allowed the revenue's appeal concerning the addition of Rs. 6,25,00,000/- under Section 68 of the Income Tax Act, reinstating the Assessing Officer's addition due to the assessee's failure to prove the identity, genuineness, and creditworthiness of the lenders. The revenue's appeal was partially allowed. en-us Fri, 11 Dec 2020 00:00:00 +0530 Wed, 23 Dec 2020 15:07:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402060 The Tribunal dismissed the revenue's appeal regarding the disallowance of Rs. 22,18,88,782/- on account of unverifiable purchases, citing lack of distinguishing facts and relying on prior decisions. However, the Tribunal allowed the revenue's appeal concerning the addition of Rs. 6,25,00,000/- under Section 68 of the Income Tax Act, reinstating the Assessing Officer's addition due to the assessee's failure to prove the identity, genuineness, and creditworthiness of the lenders. The revenue's appeal was partially allowed. Case-Laws Income Tax Fri, 11 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402060