https://www.taxtmi.com/caselaws?id=308877 The High Court upheld the decisions of the Tribunal and CIT(A) in favor of the assessee. The court dismissed the department's appeal, ruling that the diary impounded under Section 133A could not be treated as books of accounts for adding Rs. 10,06,62,000 under Section 68 due to lack of evidence establishing the genuineness of transactions. Additionally, the court agreed with the deletion of Rs. 1,01,55,994 added as estimated interest income on cash credits, as the Tribunal found the assessee acted as a broker and the revenue failed to prove the amounts belonged to the assessee. en-us Mon, 20 Nov 2017 00:00:00 +0530 Sat, 29 Jul 2023 08:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308877 The High Court upheld the decisions of the Tribunal and CIT(A) in favor of the assessee. The court dismissed the department's appeal, ruling that the diary impounded under Section 133A could not be treated as books of accounts for adding Rs. 10,06,62,000 under Section 68 due to lack of evidence establishing the genuineness of transactions. Additionally, the court agreed with the deletion of Rs. 1,01,55,994 added as estimated interest income on cash credits, as the Tribunal found the assessee acted as a broker and the revenue failed to prove the amounts belonged to the assessee. Case-Laws Income Tax Mon, 20 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308877