https://www.taxtmi.com/caselaws?id=402629 The Tribunal partially allowed the assessee's appeal, directing the AO to delete the addition made under Section 68 of the Income Tax Act amounting to Rs. 70 lakh. The Tribunal criticized the authorities for not properly verifying the documents provided by the assessee and held that the assessee should not be penalized for the Revenue's inaction. The Tribunal referenced previous rulings in the assessee's favor and emphasized that the burden of proof shifts to the AO once the assessee provides prima facie evidence. The second issue raised was deemed infructuous. en-us Mon, 26 Oct 2020 00:00:00 +0530 Fri, 08 Jan 2021 03:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402629 The Tribunal partially allowed the assessee's appeal, directing the AO to delete the addition made under Section 68 of the Income Tax Act amounting to Rs. 70 lakh. The Tribunal criticized the authorities for not properly verifying the documents provided by the assessee and held that the assessee should not be penalized for the Revenue's inaction. The Tribunal referenced previous rulings in the assessee's favor and emphasized that the burden of proof shifts to the AO once the assessee provides prima facie evidence. The second issue raised was deemed infructuous. Case-Laws Income Tax Mon, 26 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402629