https://www.taxtmi.com/caselaws?id=444035 The Tribunal upheld the deletion of the addition under Section 68 of the Income Tax Act, finding the assessee had provided sufficient evidence to prove the genuineness of loan transactions. The Tribunal remanded the issue of disallowance under Section 14A back to the Assessing Officer for further examination, directing the assessee to prove the availability of own funds for investments. The Tribunal dismissed the cross-objection on the jurisdictional issue of converting limited scrutiny into full scrutiny, partly allowing the Revenue's appeal and dismissing the assessee's cross-objection. en-us Wed, 13 Sep 2023 00:00:00 +0530 Fri, 06 Oct 2023 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444035 The Tribunal upheld the deletion of the addition under Section 68 of the Income Tax Act, finding the assessee had provided sufficient evidence to prove the genuineness of loan transactions. The Tribunal remanded the issue of disallowance under Section 14A back to the Assessing Officer for further examination, directing the assessee to prove the availability of own funds for investments. The Tribunal dismissed the cross-objection on the jurisdictional issue of converting limited scrutiny into full scrutiny, partly allowing the Revenue's appeal and dismissing the assessee's cross-objection. Case-Laws Income Tax Wed, 13 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444035