https://www.taxtmi.com/caselaws?id=309678 The Tribunal upheld the CIT(A)'s order, ruling in favor of the assessee. The Tribunal found that the assessee had successfully demonstrated the identity, creditworthiness, and genuineness of the transactions, emphasizing that the Assessing Officer must consider the explanations provided. As the assessee presented substantial evidence, the Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision. en-us Wed, 09 Feb 2022 00:00:00 +0530 Fri, 15 Sep 2023 21:27:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309678 The Tribunal upheld the CIT(A)'s order, ruling in favor of the assessee. The Tribunal found that the assessee had successfully demonstrated the identity, creditworthiness, and genuineness of the transactions, emphasizing that the Assessing Officer must consider the explanations provided. As the assessee presented substantial evidence, the Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision. Case-Laws Income Tax Wed, 09 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309678