https://www.taxtmi.com/caselaws?id=403729 The Tribunal allowed the appeal, deleting the additions made under Section 68 for unexplained cash credits and gifts. It emphasized that the Assessing Officer could not make such additions when the initial reason for reassessment was not sustained. The Tribunal held that the assessee had proven the identity, creditworthiness, and genuineness of the transactions, citing relevant case law to support its decision. en-us Tue, 02 Feb 2021 00:00:00 +0530 Sat, 06 Feb 2021 11:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403729 The Tribunal allowed the appeal, deleting the additions made under Section 68 for unexplained cash credits and gifts. It emphasized that the Assessing Officer could not make such additions when the initial reason for reassessment was not sustained. The Tribunal held that the assessee had proven the identity, creditworthiness, and genuineness of the transactions, citing relevant case law to support its decision. Case-Laws Income Tax Tue, 02 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403729