https://www.taxtmi.com/caselaws?id=403349 The Tribunal dismissed the revenue's appeal, upholding the Ld. CIT(A)'s findings. It concluded that the assessee had provided sufficient evidence to establish the genuineness of transactions involving unexplained cash credits from the director and various parties, as well as disputed purchases. The Tribunal emphasized the need for concrete evidence rather than mere suspicion in making additions under Sections 68 and 69C of the I.T. Act. The delay in pronouncing the order was attributed to the COVID-19 lockdown. en-us Wed, 08 Jul 2020 00:00:00 +0530 Wed, 27 Jan 2021 10:35:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403349 The Tribunal dismissed the revenue's appeal, upholding the Ld. CIT(A)'s findings. It concluded that the assessee had provided sufficient evidence to establish the genuineness of transactions involving unexplained cash credits from the director and various parties, as well as disputed purchases. The Tribunal emphasized the need for concrete evidence rather than mere suspicion in making additions under Sections 68 and 69C of the I.T. Act. The delay in pronouncing the order was attributed to the COVID-19 lockdown. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403349