https://www.taxtmi.com/caselaws?id=422835 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and confirming the deletion of the addition of Rs. 3,80,00,000 under Section 68 of the Income Tax Act, 1961. The Tribunal found no violation of Rule 46A, agreeing that the assessee had adequately proven the legitimacy of the transactions, leading to the unjustified nature of the addition. en-us Wed, 18 May 2022 00:00:00 +0530 Mon, 23 May 2022 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422835 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and confirming the deletion of the addition of Rs. 3,80,00,000 under Section 68 of the Income Tax Act, 1961. The Tribunal found no violation of Rule 46A, agreeing that the assessee had adequately proven the legitimacy of the transactions, leading to the unjustified nature of the addition. Case-Laws Income Tax Wed, 18 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422835