https://www.taxtmi.com/caselaws?id=312207 The HC dismissed the appeal, ruling in favor of the assessee and against the Revenue. The Tribunal established the investor's credit worthiness based on substantial net income and proportional remittances, despite previous losses. The addition made under Section 68 of the Act was deemed unwarranted as the evidence, including bank documents, supported the investments. The HC concluded there was no merit in the Revenue's appeal, with the questions of law answered in favor of the assessee, and no costs were awarded. en-us Mon, 06 Mar 2023 00:00:00 +0530 Tue, 06 Feb 2024 23:10:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312207 The HC dismissed the appeal, ruling in favor of the assessee and against the Revenue. The Tribunal established the investor's credit worthiness based on substantial net income and proportional remittances, despite previous losses. The addition made under Section 68 of the Act was deemed unwarranted as the evidence, including bank documents, supported the investments. The HC concluded there was no merit in the Revenue's appeal, with the questions of law answered in favor of the assessee, and no costs were awarded. Case-Laws Income Tax Mon, 06 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312207