https://www.taxtmi.com/caselaws?id=753667 The ITAT Mumbai allowed the appeal for statistical purposes in a case involving addition under section 68 for non-establishment of creditor identity, creditworthiness, and transaction genuineness. Following the Karnataka HC precedent in Google India Private Ltd., the tribunal emphasized that parties must be aware of additional evidence before consideration. The case was restored to the AO with directions to consider additional evidence to be filed by the assessee within 60 days to establish creditor identity, creditworthiness, and transaction genuineness for AY 2015-16, ensuring principles of natural justice. en-us Wed, 05 Jun 2024 00:00:00 +0530 Fri, 07 Jun 2024 08:14:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753667 The ITAT Mumbai allowed the appeal for statistical purposes in a case involving addition under section 68 for non-establishment of creditor identity, creditworthiness, and transaction genuineness. Following the Karnataka HC precedent in Google India Private Ltd., the tribunal emphasized that parties must be aware of additional evidence before consideration. The case was restored to the AO with directions to consider additional evidence to be filed by the assessee within 60 days to establish creditor identity, creditworthiness, and transaction genuineness for AY 2015-16, ensuring principles of natural justice. Case-Laws Income Tax Wed, 05 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753667