https://www.taxtmi.com/caselaws?id=416943 The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition under Section 68 of the Income Tax Act for the Assessment Year 2012-13. The Revenue's appeal challenging the deletion of an addition of Rs. 3,03,90,000 was dismissed as the Assessing Officer failed to provide adverse findings or independently verify the transactions. The Tribunal found that the assessee had submitted necessary documents and the Assessing Officer did not conduct proper inquiries. The appeal and Cross Objection were rejected, affirming the deletion of the addition. en-us Fri, 31 Dec 2021 00:00:00 +0530 Tue, 11 Jan 2022 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416943 The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition under Section 68 of the Income Tax Act for the Assessment Year 2012-13. The Revenue's appeal challenging the deletion of an addition of Rs. 3,03,90,000 was dismissed as the Assessing Officer failed to provide adverse findings or independently verify the transactions. The Tribunal found that the assessee had submitted necessary documents and the Assessing Officer did not conduct proper inquiries. The appeal and Cross Objection were rejected, affirming the deletion of the addition. Case-Laws Income Tax Fri, 31 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416943