https://www.taxtmi.com/caselaws?id=429781 The High Court upheld the ITAT's decision, dismissing the appeal and affirming that the addition of Rs. 20 crores to the Assessee's income under Section 68 of the Income Tax Act was unwarranted. The Court found no substantial legal issues and agreed with the ITAT's assessment that the Assessee was not connected to the transaction. The separate addition of Rs. 10 crores based on a different MOU was sent back to the AO for further review, as it was not part of the current appeal. en-us Thu, 27 Oct 2022 00:00:00 +0530 Thu, 03 Nov 2022 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429781 The High Court upheld the ITAT's decision, dismissing the appeal and affirming that the addition of Rs. 20 crores to the Assessee's income under Section 68 of the Income Tax Act was unwarranted. The Court found no substantial legal issues and agreed with the ITAT's assessment that the Assessee was not connected to the transaction. The separate addition of Rs. 10 crores based on a different MOU was sent back to the AO for further review, as it was not part of the current appeal. Case-Laws Income Tax Thu, 27 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429781