https://www.taxtmi.com/caselaws?id=426194 The Tribunal set aside the order of the CIT(A) and directed the AO to delete the addition of Rs. 2,11,99,999/- made under Section 68 of the Income Tax Act. The appeal filed by the assessee was allowed as the Tribunal found that the assessee had sufficiently proven the genuineness of the transaction and provided adequate evidence to support their claim. The Tribunal emphasized that the tax authorities should not intervene in the assessee's business decisions regarding the completion of the sale transaction or forfeiture of the advance. en-us Fri, 08 Jul 2022 00:00:00 +0530 Wed, 10 Aug 2022 09:28:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426194 The Tribunal set aside the order of the CIT(A) and directed the AO to delete the addition of Rs. 2,11,99,999/- made under Section 68 of the Income Tax Act. The appeal filed by the assessee was allowed as the Tribunal found that the assessee had sufficiently proven the genuineness of the transaction and provided adequate evidence to support their claim. The Tribunal emphasized that the tax authorities should not intervene in the assessee's business decisions regarding the completion of the sale transaction or forfeiture of the advance. Case-Laws Income Tax Fri, 08 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426194