https://www.taxtmi.com/caselaws?id=304956 The Tribunal dismissed the Revenue's appeal, confirming that the assessee satisfactorily established the identity, creditworthiness, and genuineness of the transaction, leading to no addition under Section 68 of the Income Tax Act. Additionally, the Tribunal declared the proceedings under Section 147 void ab initio due to the AO's lack of independent application of mind, partly allowing the assessee's cross-objection and dismissing the Revenue's appeal. en-us Mon, 07 Feb 2022 00:00:00 +0530 Mon, 14 Nov 2022 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304956 The Tribunal dismissed the Revenue's appeal, confirming that the assessee satisfactorily established the identity, creditworthiness, and genuineness of the transaction, leading to no addition under Section 68 of the Income Tax Act. Additionally, the Tribunal declared the proceedings under Section 147 void ab initio due to the AO's lack of independent application of mind, partly allowing the assessee's cross-objection and dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304956