https://www.taxtmi.com/caselaws?id=424978 The Revenue's appeal against the deletion of an addition of Rs. 1,86,25,876 under Section 68 of the Income-tax Act, 1961 was dismissed by the Tribunal. The CIT(A)'s decision to delete the addition was upheld, as the Tribunal found the transactions involving sundry creditors to be genuine and conducted in the normal course of business. The Tribunal concluded that the Revenue's objections were frivolous, confirming the authenticity of the lending of shares and the credibility of the parties involved. The judgment was pronounced on 15th June 2022 at Ahmedabad. en-us Wed, 15 Jun 2022 00:00:00 +0530 Wed, 13 Jul 2022 07:49:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424978 The Revenue's appeal against the deletion of an addition of Rs. 1,86,25,876 under Section 68 of the Income-tax Act, 1961 was dismissed by the Tribunal. The CIT(A)'s decision to delete the addition was upheld, as the Tribunal found the transactions involving sundry creditors to be genuine and conducted in the normal course of business. The Tribunal concluded that the Revenue's objections were frivolous, confirming the authenticity of the lending of shares and the credibility of the parties involved. The judgment was pronounced on 15th June 2022 at Ahmedabad. Case-Laws Income Tax Wed, 15 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424978