https://www.taxtmi.com/caselaws?id=414303 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition of Rs. 2,80,46,000/- made by the Assessing Officer under Section 69 of the Income Tax Act. The CIT(A) found that the assessee had adequately proven the genuineness and creditworthiness of the loans raised, providing documentary evidence for each transaction. The Tribunal determined that the AO's addition was speculative, lacking concrete evidence, and dismissed the Revenue's appeal, affirming the deletion of the addition based on established legal principles and evidence presented by the assessee. en-us Fri, 22 Oct 2021 00:00:00 +0530 Tue, 02 Nov 2021 09:28:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414303 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition of Rs. 2,80,46,000/- made by the Assessing Officer under Section 69 of the Income Tax Act. The CIT(A) found that the assessee had adequately proven the genuineness and creditworthiness of the loans raised, providing documentary evidence for each transaction. The Tribunal determined that the AO's addition was speculative, lacking concrete evidence, and dismissed the Revenue's appeal, affirming the deletion of the addition based on established legal principles and evidence presented by the assessee. Case-Laws Income Tax Fri, 22 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414303