https://www.taxtmi.com/caselaws?id=430455 The Tribunal allowed the appeal, directing the deletion of the addition under section 68 of the Income Tax Act. It emphasized the Assessing Officer's failure to conduct a thorough inquiry, highlighting the need for concrete evidence to substantiate claims of non-genuineness in transactions. Relying on legal precedents, the Tribunal stressed the importance of detailed investigations to avoid erroneous additions under the Act, stating that suspicion alone is insufficient to deem a transaction as bogus. en-us Fri, 04 Nov 2022 00:00:00 +0530 Sat, 19 Nov 2022 08:59:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430455 The Tribunal allowed the appeal, directing the deletion of the addition under section 68 of the Income Tax Act. It emphasized the Assessing Officer's failure to conduct a thorough inquiry, highlighting the need for concrete evidence to substantiate claims of non-genuineness in transactions. Relying on legal precedents, the Tribunal stressed the importance of detailed investigations to avoid erroneous additions under the Act, stating that suspicion alone is insufficient to deem a transaction as bogus. Case-Laws Income Tax Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430455