https://www.taxtmi.com/caselaws?id=306267 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition of Rs. 3,00,00,000 under Section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the transactions, leading to the dismissal of the revenue's appeal. The burden was shifted to the revenue to disprove the evidence provided by the assessee, which was not done. en-us Wed, 19 Oct 2022 00:00:00 +0530 Thu, 19 Jan 2023 08:36:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306267 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition of Rs. 3,00,00,000 under Section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the transactions, leading to the dismissal of the revenue's appeal. The burden was shifted to the revenue to disprove the evidence provided by the assessee, which was not done. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306267