https://www.taxtmi.com/caselaws?id=406046 The Tribunal dismissed the Revenue's appeals and allowed the assessees' appeals. The additions under Section 68 were deemed unjustified as the assessees proved the identity and creditworthiness of investors/lenders. The CIT(A)'s enhancement on alleged commission income was beyond jurisdiction. The restriction of disallowance under Section 14A by the CIT(A) was upheld, and the admission of additional evidence was considered part of departmental records, not new evidence. en-us Thu, 18 Mar 2021 00:00:00 +0530 Tue, 06 Jul 2021 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406046 The Tribunal dismissed the Revenue's appeals and allowed the assessees' appeals. The additions under Section 68 were deemed unjustified as the assessees proved the identity and creditworthiness of investors/lenders. The CIT(A)'s enhancement on alleged commission income was beyond jurisdiction. The restriction of disallowance under Section 14A by the CIT(A) was upheld, and the admission of additional evidence was considered part of departmental records, not new evidence. Case-Laws Income Tax Thu, 18 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406046