https://www.taxtmi.com/caselaws?id=433995 The tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to confirm the addition of Rs. 69,57,000/- under Section 68 of the Income Tax Act for unexplained cash credit related to the sale of shares, deeming the transactions as stage-managed and lacking genuine economic basis. Additionally, the tribunal affirmed the addition of Rs. 1,66,794/- under Section 69C for alleged commission payment and the charging of interest under Sections 234A and 234B. The tribunal's ruling was based on the suspicious nature of the transactions and the burden of proof on the assessee to justify the sources of income. en-us Thu, 19 Jan 2023 00:00:00 +0530 Tue, 14 Feb 2023 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433995 The tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to confirm the addition of Rs. 69,57,000/- under Section 68 of the Income Tax Act for unexplained cash credit related to the sale of shares, deeming the transactions as stage-managed and lacking genuine economic basis. Additionally, the tribunal affirmed the addition of Rs. 1,66,794/- under Section 69C for alleged commission payment and the charging of interest under Sections 234A and 234B. The tribunal's ruling was based on the suspicious nature of the transactions and the burden of proof on the assessee to justify the sources of income. Case-Laws Income Tax Thu, 19 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433995