https://www.taxtmi.com/caselaws?id=403688 The ITAT Allahabad dismissed the appellant's miscellaneous application seeking correction of a mistake apparent from records in the appellate order dated 21.12.2017. The tribunal upheld the additions made by the Assessing Officer based on the appellant's failure to prove the creditworthiness of the lender and genuineness of the transaction, in accordance with Section 68 of the Income Tax Act. The CIT(A)'s decision to delete the additions was reversed, emphasizing the appellant's non-compliance with statutory requirements. The tribunal's decision was final, with no identified mistakes in the appellate order warranting correction under Section 254(2) of the Income Tax Act. en-us Wed, 03 Feb 2021 00:00:00 +0530 Fri, 05 Feb 2021 07:14:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403688 The ITAT Allahabad dismissed the appellant's miscellaneous application seeking correction of a mistake apparent from records in the appellate order dated 21.12.2017. The tribunal upheld the additions made by the Assessing Officer based on the appellant's failure to prove the creditworthiness of the lender and genuineness of the transaction, in accordance with Section 68 of the Income Tax Act. The CIT(A)'s decision to delete the additions was reversed, emphasizing the appellant's non-compliance with statutory requirements. The tribunal's decision was final, with no identified mistakes in the appellate order warranting correction under Section 254(2) of the Income Tax Act. Case-Laws Income Tax Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403688