https://www.taxtmi.com/caselaws?id=56765 The Tribunal allowed the appeal, ruling in favor of the assessee and ordering the removal of the Rs. 29,264 cash credit from the firm's income. The Tribunal found that the AAC's decision to maintain the addition of the cash credit was flawed as it did not consider the firm's history and the source of the credit properly. Additionally, the Tribunal highlighted the lack of evidence regarding the creditworthiness of the individual in whose name the cash credit was recorded, ultimately concluding that the cash credit was not properly characterized under Section 68 of the Act. en-us Thu, 17 Jan 1985 00:00:00 +0530 Sun, 06 Feb 2011 03:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56765 The Tribunal allowed the appeal, ruling in favor of the assessee and ordering the removal of the Rs. 29,264 cash credit from the firm's income. The Tribunal found that the AAC's decision to maintain the addition of the cash credit was flawed as it did not consider the firm's history and the source of the credit properly. Additionally, the Tribunal highlighted the lack of evidence regarding the creditworthiness of the individual in whose name the cash credit was recorded, ultimately concluding that the cash credit was not properly characterized under Section 68 of the Act. Case-Laws Income Tax Thu, 17 Jan 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56765