https://www.taxtmi.com/caselaws?id=422106 The Tribunal overturned the decisions of the lower authorities, directing the deletion of additions made under Section 56(2)(viib) and Section 68 of the I.T. Act. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transactions, following the prescribed valuation method. The appeal of the assessee was allowed, and the additions totaling Rs. 86,25,000 were deleted. en-us Thu, 05 May 2022 00:00:00 +0530 Mon, 09 May 2022 08:39:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422106 The Tribunal overturned the decisions of the lower authorities, directing the deletion of additions made under Section 56(2)(viib) and Section 68 of the I.T. Act. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transactions, following the prescribed valuation method. The appeal of the assessee was allowed, and the additions totaling Rs. 86,25,000 were deleted. Case-Laws Income Tax Thu, 05 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422106