https://www.taxtmi.com/caselaws?id=405502 The Tribunal allowed the appeal, directing the deletion of the additions made under Section 68 and Section 69 of the Income Tax Act. The Tribunal emphasized the lack of independent inquiry by the Assessing Officer and the absence of the assessee's name in SEBI's debarred entities list, supporting the genuineness of the transactions. The Tribunal found that the assessee had provided sufficient evidence of genuine transactions, including payments through banking channels and dematerialized shares, leading to the deletion of the additions totaling Rs. 2,24,23,848/-. en-us Fri, 19 Mar 2021 00:00:00 +0530 Mon, 22 Mar 2021 09:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405502 The Tribunal allowed the appeal, directing the deletion of the additions made under Section 68 and Section 69 of the Income Tax Act. The Tribunal emphasized the lack of independent inquiry by the Assessing Officer and the absence of the assessee's name in SEBI's debarred entities list, supporting the genuineness of the transactions. The Tribunal found that the assessee had provided sufficient evidence of genuine transactions, including payments through banking channels and dematerialized shares, leading to the deletion of the additions totaling Rs. 2,24,23,848/-. Case-Laws Income Tax Fri, 19 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405502