https://www.taxtmi.com/caselaws?id=432967 The Tribunal allowed the appeal, directing the AO to delete the addition of Rs. 56,00,000/- as unexplained cash credit under Section 68 of the Income Tax Act for both AY 2012-13 and AY 2013-14. The Tribunal found that the AO failed to point out any discrepancies in the evidence provided by the assessee and the investors, focusing solely on non-compliance with summons rather than the sufficiency and accuracy of the documents. The Tribunal emphasized that the burden was on the revenue to establish any discrepancies once the assessee had provided necessary documentation. en-us Wed, 11 Jan 2023 00:00:00 +0530 Tue, 17 Jan 2023 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432967 The Tribunal allowed the appeal, directing the AO to delete the addition of Rs. 56,00,000/- as unexplained cash credit under Section 68 of the Income Tax Act for both AY 2012-13 and AY 2013-14. The Tribunal found that the AO failed to point out any discrepancies in the evidence provided by the assessee and the investors, focusing solely on non-compliance with summons rather than the sufficiency and accuracy of the documents. The Tribunal emphasized that the burden was on the revenue to establish any discrepancies once the assessee had provided necessary documentation. Case-Laws Income Tax Wed, 11 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432967