https://www.taxtmi.com/caselaws?id=427511 The ITAT upheld the addition of cash credit under section 68 of the Income Tax Act due to unproved transactions with specific creditors, including ACE Enterprises, as the appellant failed to substantiate the identity, creditworthiness, and genuineness of these transactions. Despite submitting additional documents during the appellate proceedings, the appellant's evidence was deemed insufficient, leading to the confirmation of the additions made by the Assessing Officer. The ITAT emphasized the appellant's failure to provide necessary details and evidence, resulting in the dismissal of the appeal. en-us Fri, 05 Aug 2022 00:00:00 +0530 Sat, 10 Sep 2022 07:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427511 The ITAT upheld the addition of cash credit under section 68 of the Income Tax Act due to unproved transactions with specific creditors, including ACE Enterprises, as the appellant failed to substantiate the identity, creditworthiness, and genuineness of these transactions. Despite submitting additional documents during the appellate proceedings, the appellant's evidence was deemed insufficient, leading to the confirmation of the additions made by the Assessing Officer. The ITAT emphasized the appellant's failure to provide necessary details and evidence, resulting in the dismissal of the appeal. Case-Laws Income Tax Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427511