https://www.taxtmi.com/caselaws?id=416219 The Tribunal allowed the Revenue's appeal, quashing the CIT(A)'s order that deleted an addition of Rs. 4,10,00,000 under Section 68 of the Income Tax Act, 1961. The Tribunal held that the assessee failed to prove the identity, creditworthiness of the creditors, and genuineness of the transactions adequately. Consequently, the addition made by the Assessing Officer was upheld, increasing the assessee's total income by the aforementioned amount. en-us Tue, 30 Nov 2021 00:00:00 +0530 Wed, 22 Dec 2021 20:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416219 The Tribunal allowed the Revenue's appeal, quashing the CIT(A)'s order that deleted an addition of Rs. 4,10,00,000 under Section 68 of the Income Tax Act, 1961. The Tribunal held that the assessee failed to prove the identity, creditworthiness of the creditors, and genuineness of the transactions adequately. Consequently, the addition made by the Assessing Officer was upheld, increasing the assessee's total income by the aforementioned amount. Case-Laws Income Tax Tue, 30 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416219