https://www.taxtmi.com/caselaws?id=408920 The ITAT upheld the addition of Rs. 1,60,88,000 under section 68 of the Income Tax Act, emphasizing the lack of satisfactory explanations regarding the genuineness and valuation aspects of the transactions. The decision stressed the importance of proper documentation and transparency in financial dealings to avoid adverse tax implications and suspicions of tax evasion. en-us Tue, 22 Jun 2021 00:00:00 +0530 Thu, 24 Jun 2021 08:27:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408920 The ITAT upheld the addition of Rs. 1,60,88,000 under section 68 of the Income Tax Act, emphasizing the lack of satisfactory explanations regarding the genuineness and valuation aspects of the transactions. The decision stressed the importance of proper documentation and transparency in financial dealings to avoid adverse tax implications and suspicions of tax evasion. Case-Laws Income Tax Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408920