https://www.taxtmi.com/caselaws?id=438941 The Tribunal upheld the CIT(A)'s decisions in a tax case, dismissing the Revenue's appeal. The deletions of additions under sections 68 and 69C, related to unexplained cash credit and expenditure on unsecured loans, were upheld. Additionally, a partial deletion regarding a shortfall in Net Profit was confirmed. The Tribunal found the assessee had adequately substantiated the transactions with evidence, shifting the burden of proof to the Revenue, which failed to discredit the evidence presented. en-us Thu, 13 Apr 2023 00:00:00 +0530 Fri, 01 Sep 2023 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438941 The Tribunal upheld the CIT(A)'s decisions in a tax case, dismissing the Revenue's appeal. The deletions of additions under sections 68 and 69C, related to unexplained cash credit and expenditure on unsecured loans, were upheld. Additionally, a partial deletion regarding a shortfall in Net Profit was confirmed. The Tribunal found the assessee had adequately substantiated the transactions with evidence, shifting the burden of proof to the Revenue, which failed to discredit the evidence presented. Case-Laws Income Tax Thu, 13 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438941