https://www.taxtmi.com/caselaws?id=301044 The Tribunal dismissed the revenue's appeal and upheld the CIT (A)'s decision to delete the addition under section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently established the identity, creditworthiness, and genuineness of the unsecured loan transaction, supported by extensive documentation. The judgment highlighted the importance of the assessee meeting the burden of proof, leading to the deletion of the addition of &8377;2,95,00,000/- under section 68. en-us Tue, 22 Dec 2015 00:00:00 +0530 Thu, 10 Mar 2022 08:16:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301044 The Tribunal dismissed the revenue's appeal and upheld the CIT (A)'s decision to delete the addition under section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently established the identity, creditworthiness, and genuineness of the unsecured loan transaction, supported by extensive documentation. The judgment highlighted the importance of the assessee meeting the burden of proof, leading to the deletion of the addition of &8377;2,95,00,000/- under section 68. Case-Laws Income Tax Tue, 22 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301044