https://www.taxtmi.com/caselaws?id=312622 The ITAT Ahmedabad upheld the CIT(A)'s decision regarding unexplained cash credits under section 68. The tribunal ruled that additions for capital introduction by a partner should be made in the partner's hands rather than in the firm's case, following the Gujarat HC precedent in Odedara Construction. The Revenue's appeal was dismissed as the CIT(A) had already issued proper directions to the Assessing Officer regarding the correct procedure for such additions. en-us Thu, 18 Jan 2018 00:00:00 +0530 Wed, 28 Feb 2024 17:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312622 The ITAT Ahmedabad upheld the CIT(A)'s decision regarding unexplained cash credits under section 68. The tribunal ruled that additions for capital introduction by a partner should be made in the partner's hands rather than in the firm's case, following the Gujarat HC precedent in Odedara Construction. The Revenue's appeal was dismissed as the CIT(A) had already issued proper directions to the Assessing Officer regarding the correct procedure for such additions. Case-Laws Income Tax Thu, 18 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312622