https://www.taxtmi.com/caselaws?id=434291 The tribunal partially allowed the appeal, finding that the assessee had proven the creditworthiness of the creditor and the genuineness of the transaction. Consequently, the additions and disallowances made by the Assessing Officer and upheld by the CIT(A) were overturned. The tribunal concluded in favor of the assessee, emphasizing that the burden to disprove the transaction shifted to the Revenue, which failed to counter the evidence presented. The decision was pronounced on 17/02/2023. en-us Fri, 17 Feb 2023 00:00:00 +0530 Tue, 21 Feb 2023 08:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434291 The tribunal partially allowed the appeal, finding that the assessee had proven the creditworthiness of the creditor and the genuineness of the transaction. Consequently, the additions and disallowances made by the Assessing Officer and upheld by the CIT(A) were overturned. The tribunal concluded in favor of the assessee, emphasizing that the burden to disprove the transaction shifted to the Revenue, which failed to counter the evidence presented. The decision was pronounced on 17/02/2023. Case-Laws Income Tax Fri, 17 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434291