https://www.taxtmi.com/caselaws?id=445498 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals), dismissing the appeal by the Assessee. The appeal concerned the addition of Rs. 50,00,000/- under section 68 of the Income Tax Act for unexplained cash credits. The Assessee failed to provide sufficient evidence regarding the identity and creditworthiness of the creditor and the genuineness of the transaction. The Tribunal found no error in the lower authorities' decisions and confirmed the addition, dismissing the appeal on 12th October 2023. en-us Thu, 12 Oct 2023 00:00:00 +0530 Thu, 09 Nov 2023 08:50:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445498 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals), dismissing the appeal by the Assessee. The appeal concerned the addition of Rs. 50,00,000/- under section 68 of the Income Tax Act for unexplained cash credits. The Assessee failed to provide sufficient evidence regarding the identity and creditworthiness of the creditor and the genuineness of the transaction. The Tribunal found no error in the lower authorities' decisions and confirmed the addition, dismissing the appeal on 12th October 2023. Case-Laws Income Tax Thu, 12 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445498