https://www.taxtmi.com/caselaws?id=304661 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 10,15,00,000/- made by the AO under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided sufficient evidence to establish the identity, creditworthiness, and genuineness of the transactions. The Tribunal noted that the assessments of the investor companies under Section 143(3) supported the assessee's claim and that the non-production of directors and the non-existence of companies at their given addresses did not invalidate the transactions. en-us Thu, 25 Nov 2021 00:00:00 +0530 Thu, 13 Oct 2022 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304661 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 10,15,00,000/- made by the AO under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided sufficient evidence to establish the identity, creditworthiness, and genuineness of the transactions. The Tribunal noted that the assessments of the investor companies under Section 143(3) supported the assessee's claim and that the non-production of directors and the non-existence of companies at their given addresses did not invalidate the transactions. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304661