https://www.taxtmi.com/caselaws?id=304217 The Tribunal overturned the decision of the AO and CIT(A) to confirm the addition of an unexplained cash credit regarding a loan received, as the appellant successfully demonstrated the genuineness of the transaction through substantial documentation. Despite initial suspicions, the Tribunal found the loan to be legitimate, supported by evidence such as bank statements, affidavits, and confirmations from involved parties. The lack of conclusive investigation by the AO led to the deletion of the addition, ultimately allowing the appeal of the assessee. en-us Wed, 06 Feb 2019 00:00:00 +0530 Tue, 13 Sep 2022 20:21:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304217 The Tribunal overturned the decision of the AO and CIT(A) to confirm the addition of an unexplained cash credit regarding a loan received, as the appellant successfully demonstrated the genuineness of the transaction through substantial documentation. Despite initial suspicions, the Tribunal found the loan to be legitimate, supported by evidence such as bank statements, affidavits, and confirmations from involved parties. The lack of conclusive investigation by the AO led to the deletion of the addition, ultimately allowing the appeal of the assessee. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304217