https://www.taxtmi.com/caselaws?id=293692 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,00,00,000/- under Section 68 of the Income Tax Act. It found that the assessee had adequately proven the identity, genuineness, and creditworthiness of the lenders. The Tribunal noted the lack of further inquiries by the Assessing Officer and relied on the comprehensive evidence submitted by the assessee. Previous judicial decisions in favor of the assessee involving similar parties further supported the Tribunal's ruling, ultimately leading to the dismissal of the Revenue's appeal. en-us Wed, 13 Feb 2019 00:00:00 +0530 Wed, 24 Feb 2021 20:28:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293692 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,00,00,000/- under Section 68 of the Income Tax Act. It found that the assessee had adequately proven the identity, genuineness, and creditworthiness of the lenders. The Tribunal noted the lack of further inquiries by the Assessing Officer and relied on the comprehensive evidence submitted by the assessee. Previous judicial decisions in favor of the assessee involving similar parties further supported the Tribunal's ruling, ultimately leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293692