https://www.taxtmi.com/caselaws?id=412872 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the addition of Rs. 94,000,000 made by the Assessing Officer under Section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently proven the creditworthiness and genuineness of investments made by five farmers and two directors, providing evidence such as bank statements and confirmations. The Tribunal dismissed the AO's appeal, emphasizing that the assessee had met its burden of proof, leading to the deletion of the contested amount and confirming the legitimacy of the investments. en-us Fri, 24 Sep 2021 00:00:00 +0530 Wed, 29 Sep 2021 11:04:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412872 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the addition of Rs. 94,000,000 made by the Assessing Officer under Section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently proven the creditworthiness and genuineness of investments made by five farmers and two directors, providing evidence such as bank statements and confirmations. The Tribunal dismissed the AO's appeal, emphasizing that the assessee had met its burden of proof, leading to the deletion of the contested amount and confirming the legitimacy of the investments. Case-Laws Income Tax Fri, 24 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412872