https://www.taxtmi.com/caselaws?id=420446 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 41,49,500 under Section 68 of the Income Tax Act. The Assessee successfully proved the genuineness of transactions with Basant Marketing Pvt. Ltd. and Satya Securities Ltd., and the addition was deemed based on suspicion without concrete evidence. The Tribunal confirmed the deletion of the addition and disposed of the set-off issue as academic, ultimately upholding the CIT(A)'s order and recognizing the Assessee's fulfillment of proving the credits' genuineness. en-us Thu, 31 Mar 2022 00:00:00 +0530 Sat, 02 Apr 2022 08:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420446 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 41,49,500 under Section 68 of the Income Tax Act. The Assessee successfully proved the genuineness of transactions with Basant Marketing Pvt. Ltd. and Satya Securities Ltd., and the addition was deemed based on suspicion without concrete evidence. The Tribunal confirmed the deletion of the addition and disposed of the set-off issue as academic, ultimately upholding the CIT(A)'s order and recognizing the Assessee's fulfillment of proving the credits' genuineness. Case-Laws Income Tax Thu, 31 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420446