https://www.taxtmi.com/caselaws?id=776918 ITAT (Del) upheld the taxpayer's appeal under proceedings u/s 144C(5), finding that Revenue failed to produce material contradicting the taxpayer's evidence that foreign remittances were refunds of deposits with a private company. The AO doubted the company's creditworthiness but did not dispute identity or genuineness and did not controvert documentary evidence (balance sheets, Form 3CD). The tribunal held the AO merely failed to appreciate evidence and deleted the addition; the taxpayer's appeal was allowed. en-us Mon, 18 Aug 2025 00:00:00 +0530 Thu, 21 Aug 2025 08:35:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776918 ITAT (Del) upheld the taxpayer's appeal under proceedings u/s 144C(5), finding that Revenue failed to produce material contradicting the taxpayer's evidence that foreign remittances were refunds of deposits with a private company. The AO doubted the company's creditworthiness but did not dispute identity or genuineness and did not controvert documentary evidence (balance sheets, Form 3CD). The tribunal held the AO merely failed to appreciate evidence and deleted the addition; the taxpayer's appeal was allowed. Case-Laws Income Tax Mon, 18 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776918