https://www.taxtmi.com/caselaws?id=59433 The appeal was allowed for statistical purposes by the ITAT, setting aside the matter for fresh adjudication by the AO. Despite demonstrating creditworthiness and transaction genuineness, the assessee failed to conclusively establish the identity of the creditor, leading to the confirmation of the addition of Rs. 20 lakhs under section 68 of the Income Tax Act. The ITAT emphasized the importance of disclosing all details and the latest address of the creditor for a thorough investigation, based on legal precedents and the decision of the Hon'ble Calcutta High Court. en-us Tue, 21 Mar 2006 00:00:00 +0530 Wed, 29 Dec 2010 16:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59433 The appeal was allowed for statistical purposes by the ITAT, setting aside the matter for fresh adjudication by the AO. Despite demonstrating creditworthiness and transaction genuineness, the assessee failed to conclusively establish the identity of the creditor, leading to the confirmation of the addition of Rs. 20 lakhs under section 68 of the Income Tax Act. The ITAT emphasized the importance of disclosing all details and the latest address of the creditor for a thorough investigation, based on legal precedents and the decision of the Hon'ble Calcutta High Court. Case-Laws Income Tax Tue, 21 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59433