https://www.taxtmi.com/caselaws?id=444832 The Tribunal ruled in favor of the appellant trust, overturning the addition of Rs. 28,25,819/- as unexplained expenditure under Section 69C of the Act. It determined that the CIT(A) had erred by not considering crucial evidence, including the creditworthiness and genuineness of borrowed funds recorded in the audited Balance Sheet. The appeal was allowed, and the addition was set aside, with the decision pronounced on 13-10-2023. en-us Fri, 13 Oct 2023 00:00:00 +0530 Wed, 25 Oct 2023 09:18:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444832 The Tribunal ruled in favor of the appellant trust, overturning the addition of Rs. 28,25,819/- as unexplained expenditure under Section 69C of the Act. It determined that the CIT(A) had erred by not considering crucial evidence, including the creditworthiness and genuineness of borrowed funds recorded in the audited Balance Sheet. The appeal was allowed, and the addition was set aside, with the decision pronounced on 13-10-2023. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444832