https://www.taxtmi.com/caselaws?id=433603 The tribunal allowed the assessee's appeal, overturning the AO's addition of Rs. 15,00,000 under Section 68 of the Income Tax Act. The tribunal found that the assessee had adequately proven the genuineness of the loans by providing detailed information about the loan parties, and the revenue failed to identify any deficiencies in the evidence presented. Therefore, the tribunal directed the AO to delete the Rs. 15,00,000 addition, ruling in favor of the assessee. en-us Tue, 31 Jan 2023 00:00:00 +0530 Fri, 03 Feb 2023 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433603 The tribunal allowed the assessee's appeal, overturning the AO's addition of Rs. 15,00,000 under Section 68 of the Income Tax Act. The tribunal found that the assessee had adequately proven the genuineness of the loans by providing detailed information about the loan parties, and the revenue failed to identify any deficiencies in the evidence presented. Therefore, the tribunal directed the AO to delete the Rs. 15,00,000 addition, ruling in favor of the assessee. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433603