https://www.taxtmi.com/caselaws?id=429426 The Tribunal set aside the lower authorities' decision to add Rs. 5,38,00,000 under Section 68 of the Income Tax Act due to unexplained cash credit. The Tribunal found that the assessee had provided sufficient evidence, including the source of investments, and criticized the AO for not summoning directors of investor companies. The Tribunal emphasized the necessity of cross-examination and ruled in favor of the assessee, directing the deletion of the addition. en-us Fri, 21 Oct 2022 00:00:00 +0530 Thu, 27 Oct 2022 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429426 The Tribunal set aside the lower authorities' decision to add Rs. 5,38,00,000 under Section 68 of the Income Tax Act due to unexplained cash credit. The Tribunal found that the assessee had provided sufficient evidence, including the source of investments, and criticized the AO for not summoning directors of investor companies. The Tribunal emphasized the necessity of cross-examination and ruled in favor of the assessee, directing the deletion of the addition. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429426