https://www.taxtmi.com/caselaws?id=775752 The SC dismissed the Special Leave Petition challenging the HC's decision upholding the AO's assessment under section 68 read with section 115BBE. The court found that the assessee adequately proved the genuineness and source of unexplained creditors and liabilities, which represented opening balances and trade creditors. The PCIT did not dispute the factual assertions or evidence provided. Consequently, the SC held there was no error warranting interference under section 263 revision and affirmed the lower courts' findings. Pending applications were disposed of. en-us Fri, 25 Jul 2025 00:00:00 +0530 Wed, 30 Jul 2025 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775752 The SC dismissed the Special Leave Petition challenging the HC's decision upholding the AO's assessment under section 68 read with section 115BBE. The court found that the assessee adequately proved the genuineness and source of unexplained creditors and liabilities, which represented opening balances and trade creditors. The PCIT did not dispute the factual assertions or evidence provided. Consequently, the SC held there was no error warranting interference under section 263 revision and affirmed the lower courts' findings. Pending applications were disposed of. Case-Laws Income Tax Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775752