https://www.taxtmi.com/caselaws?id=418521 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO concerning unexplained cash credits under Section 68 of the Income Tax Act and disallowance of expenditure on technology transfer. The Tribunal found that the assessee had provided ample evidence to support their claims, shifting the burden of proof to the AO. The Tribunal dismissed the Revenue's appeal, stating that the AO's actions were unjustified and based on conjectures rather than facts, ultimately affirming the deletions made by the CIT(A). en-us Wed, 16 Feb 2022 00:00:00 +0530 Fri, 18 Feb 2022 07:34:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418521 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO concerning unexplained cash credits under Section 68 of the Income Tax Act and disallowance of expenditure on technology transfer. The Tribunal found that the assessee had provided ample evidence to support their claims, shifting the burden of proof to the AO. The Tribunal dismissed the Revenue's appeal, stating that the AO's actions were unjustified and based on conjectures rather than facts, ultimately affirming the deletions made by the CIT(A). Case-Laws Income Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418521