https://www.taxtmi.com/caselaws?id=423821 The Tribunal ruled in favor of the assessee, setting aside the Commissioner of Income Tax (Appeals) order and the addition under section 68 of the Income Tax Act, 1961. The Tribunal emphasized that the assessee was not obligated to prove the source of source of the creditor and highlighted the need to explain the source of funds. As the source of source was clarified during the remand proceedings, the Tribunal allowed the appeal, noting discrepancies in transactions and lack of conclusive evidence linking unaccounted money to the assessee. en-us Tue, 31 May 2022 00:00:00 +0530 Thu, 16 Jun 2022 09:13:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423821 The Tribunal ruled in favor of the assessee, setting aside the Commissioner of Income Tax (Appeals) order and the addition under section 68 of the Income Tax Act, 1961. The Tribunal emphasized that the assessee was not obligated to prove the source of source of the creditor and highlighted the need to explain the source of funds. As the source of source was clarified during the remand proceedings, the Tribunal allowed the appeal, noting discrepancies in transactions and lack of conclusive evidence linking unaccounted money to the assessee. Case-Laws Income Tax Tue, 31 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423821