https://www.taxtmi.com/caselaws?id=440766 The Tribunal allowed the assessee's appeal against the order confirming the addition of Rs. 5,25,000 as unexplained cash credit for the assessment year 2013-14. The Tribunal found that the assessee had met the requirements of section 68 of the Act by providing necessary evidence, including an affidavit and income tax return acknowledgment from the lender. It emphasized the importance of independent verification and ruled that the addition made by the Assessing Officer was unwarranted. As a result, the addition was deleted, and the appeal of the assessee was successful. en-us Fri, 23 Jun 2023 00:00:00 +0530 Wed, 26 Jul 2023 08:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440766 The Tribunal allowed the assessee's appeal against the order confirming the addition of Rs. 5,25,000 as unexplained cash credit for the assessment year 2013-14. The Tribunal found that the assessee had met the requirements of section 68 of the Act by providing necessary evidence, including an affidavit and income tax return acknowledgment from the lender. It emphasized the importance of independent verification and ruled that the addition made by the Assessing Officer was unwarranted. As a result, the addition was deleted, and the appeal of the assessee was successful. Case-Laws Income Tax Fri, 23 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440766