https://www.taxtmi.com/caselaws?id=436111 The Tribunal upheld the decision of the Ld. CIT(A) to delete additions made by the Assessing Officer, amounting to Rs. 2,59,28,791, on account of treating capital introduced by partners as unexplained cash credit under Section 68 of the Income-Tax Act, 1961. The Tribunal found that the assessee had adequately justified the source of the capital with documentary evidence, proving the identity, creditworthiness, and genuineness of the transactions. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the addition by the Ld. CIT(A). en-us Wed, 15 Mar 2023 00:00:00 +0530 Wed, 05 Apr 2023 08:58:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436111 The Tribunal upheld the decision of the Ld. CIT(A) to delete additions made by the Assessing Officer, amounting to Rs. 2,59,28,791, on account of treating capital introduced by partners as unexplained cash credit under Section 68 of the Income-Tax Act, 1961. The Tribunal found that the assessee had adequately justified the source of the capital with documentary evidence, proving the identity, creditworthiness, and genuineness of the transactions. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the addition by the Ld. CIT(A). Case-Laws Income Tax Wed, 15 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436111