https://www.taxtmi.com/caselaws?id=417362 The Tribunal dismissed the Revenue's appeals and upheld the CIT(A)'s order, confirming that the assessee had discharged its burden under Section 68. The Tribunal emphasized the importance of adhering to principles of natural justice and conducting thorough inquiries before making additions under Section 68. The Tribunal also clarified the prospective applicability of the proviso to Section 68, reinforcing that the assessee was not required to explain the source of the source for the assessment years before the proviso's effective date. en-us Fri, 17 Dec 2021 00:00:00 +0530 Fri, 21 Jan 2022 08:52:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417362 The Tribunal dismissed the Revenue's appeals and upheld the CIT(A)'s order, confirming that the assessee had discharged its burden under Section 68. The Tribunal emphasized the importance of adhering to principles of natural justice and conducting thorough inquiries before making additions under Section 68. The Tribunal also clarified the prospective applicability of the proviso to Section 68, reinforcing that the assessee was not required to explain the source of the source for the assessment years before the proviso's effective date. Case-Laws Income Tax Fri, 17 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417362