https://www.taxtmi.com/caselaws?id=408315 The Tribunal upheld the CIT(A)'s decision to delete additions related to unexplained cash credit and disallowance of interest payments. The Tribunal found that the assessee adequately proved the identity and genuineness of lenders, with transactions conducted through banking channels. The AO's additions were deemed unsustainable due to lack of substantial evidence. The Tribunal dismissed the Revenue's appeal, emphasizing the assessee's fulfillment of proving lender credibility and criticizing the AO's reliance on suspicion without proper inquiry. en-us Tue, 01 Jun 2021 00:00:00 +0530 Mon, 07 Jun 2021 08:37:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408315 The Tribunal upheld the CIT(A)'s decision to delete additions related to unexplained cash credit and disallowance of interest payments. The Tribunal found that the assessee adequately proved the identity and genuineness of lenders, with transactions conducted through banking channels. The AO's additions were deemed unsustainable due to lack of substantial evidence. The Tribunal dismissed the Revenue's appeal, emphasizing the assessee's fulfillment of proving lender credibility and criticizing the AO's reliance on suspicion without proper inquiry. Case-Laws Income Tax Tue, 01 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408315