https://www.taxtmi.com/caselaws?id=438188 The Tribunal upheld the AO's addition of Rs. 4,80,00,000 as unexplained cash credit under Section 68, citing lack of proof on identity and creditworthiness. Additionally, the Tribunal confirmed the Rs. 9,60,000 commission addition for facilitating the cash credit entry. The Tribunal dismissed the appeal, endorsing the AO and CIT(A)'s decisions, finding no procedural improprieties or violations of natural justice. Penalty proceedings under Section 271(1)(c) were deemed premature and dismissed. en-us Wed, 26 Apr 2023 00:00:00 +0530 Thu, 25 May 2023 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438188 The Tribunal upheld the AO's addition of Rs. 4,80,00,000 as unexplained cash credit under Section 68, citing lack of proof on identity and creditworthiness. Additionally, the Tribunal confirmed the Rs. 9,60,000 commission addition for facilitating the cash credit entry. The Tribunal dismissed the appeal, endorsing the AO and CIT(A)'s decisions, finding no procedural improprieties or violations of natural justice. Penalty proceedings under Section 271(1)(c) were deemed premature and dismissed. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438188