https://www.taxtmi.com/caselaws?id=301026 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition of Rs. 1,75,00,000 under Section 68 and Rs. 3,50,000 on account of commission. The ITAT found that the assessee had provided satisfactory evidence to establish the legitimacy of the transactions, while the Assessing Officer (AO) failed to present any contradictory proof. This case underscores the significance of thorough investigation and substantiated claims by the Revenue in matters concerning unexplained cash credits. en-us Tue, 20 Nov 2018 00:00:00 +0530 Wed, 09 Mar 2022 08:27:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301026 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition of Rs. 1,75,00,000 under Section 68 and Rs. 3,50,000 on account of commission. The ITAT found that the assessee had provided satisfactory evidence to establish the legitimacy of the transactions, while the Assessing Officer (AO) failed to present any contradictory proof. This case underscores the significance of thorough investigation and substantiated claims by the Revenue in matters concerning unexplained cash credits. Case-Laws Income Tax Tue, 20 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301026