https://www.taxtmi.com/caselaws?id=422004 The Appellate Tribunal ruled in favor of the Assessee, directing the Assessing Officer to delete the addition of Rs. 12,00,000 as unexplained cash credit under section 68 of the Income Tax Act for the Assessment Year 2012-2013. The Tribunal found that the Assessee's transactions, supported by evidence such as bank statements and RTGS details, demonstrated the genuineness of the loan receipt and repayment. Emphasizing the need to consider all entries holistically and verify claims with documentary evidence, the Tribunal concluded that the addition by the lower authorities was unwarranted. en-us Mon, 07 Feb 2022 00:00:00 +0530 Thu, 05 May 2022 21:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422004 The Appellate Tribunal ruled in favor of the Assessee, directing the Assessing Officer to delete the addition of Rs. 12,00,000 as unexplained cash credit under section 68 of the Income Tax Act for the Assessment Year 2012-2013. The Tribunal found that the Assessee's transactions, supported by evidence such as bank statements and RTGS details, demonstrated the genuineness of the loan receipt and repayment. Emphasizing the need to consider all entries holistically and verify claims with documentary evidence, the Tribunal concluded that the addition by the lower authorities was unwarranted. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422004