https://www.taxtmi.com/caselaws?id=426338 The Tribunal partially allowed the appeal, accepting most of the assessee's explanations and emphasizing the significance of proper documentation and banking channel transactions in substantiating credit entries. The Tribunal found that if entries are recorded in the books of accounts, Section 69A of the Income Tax Act cannot be invoked, leading to the rejection of the AO's additions as unexplained money. The satisfactory explanations provided for various credit entries resulted in a reduced tax liability under Section 115BBE. en-us Wed, 10 Aug 2022 00:00:00 +0530 Sat, 13 Aug 2022 08:06:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426338 The Tribunal partially allowed the appeal, accepting most of the assessee's explanations and emphasizing the significance of proper documentation and banking channel transactions in substantiating credit entries. The Tribunal found that if entries are recorded in the books of accounts, Section 69A of the Income Tax Act cannot be invoked, leading to the rejection of the AO's additions as unexplained money. The satisfactory explanations provided for various credit entries resulted in a reduced tax liability under Section 115BBE. Case-Laws Income Tax Wed, 10 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426338