https://www.taxtmi.com/caselaws?id=61481 The assessee's appeal was withdrawn during the hearing, resulting in its dismissal. The Rs. 3,15,000 added as unproved cash credits by the Revenue in the name of Sh. Naresh Kapoor was deleted by the CIT(A) due to sufficient evidence provided by the assessee. Reassessment proceedings under sections 147/148 of the IT Act were initiated based on alleged bogus gift receipt, but the appeal challenging this was withdrawn. The Tribunal upheld the deletion of the cash credits, concluding that the assessee had adequately proven the legitimacy of the transactions. Both appeals were dismissed. en-us Wed, 28 May 2003 00:00:00 +0530 Tue, 19 Jun 2012 14:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61481 The assessee's appeal was withdrawn during the hearing, resulting in its dismissal. The Rs. 3,15,000 added as unproved cash credits by the Revenue in the name of Sh. Naresh Kapoor was deleted by the CIT(A) due to sufficient evidence provided by the assessee. Reassessment proceedings under sections 147/148 of the IT Act were initiated based on alleged bogus gift receipt, but the appeal challenging this was withdrawn. The Tribunal upheld the deletion of the cash credits, concluding that the assessee had adequately proven the legitimacy of the transactions. Both appeals were dismissed. Case-Laws Income Tax Wed, 28 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61481