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2023 (10) TMI 40 - GUJARAT HIGH COURTAddition u/s 68 - unexplained cash credit - ITAT has held that the credit worthiness of the creditors and genuineness of transaction have been established - HELD THAT:- In view of the findings of CIT (A) on the facts of the case as well as the view taken by the Tribunal to give opportunity to the assessee to prove the identity of the lenders, the ingredients to be complied with for invoking section 68 of the Act as held by the Apex Court in case of NRA Iron and Steel Pvt Ltd. [2019 (3) TMI 323 - SUPREME COURT] cannot be stated to have been violated or ignored because if the assessee would be able to prove identity of the lenders, then the creditworthiness and genuineness, as held by the CIT (A), are already proved. In such cases, there cannot be any addition under section 68 In view of the above facts emerging from the record as well as in view of the fact that the Tribunal has remanded the matter back to the Assessing Officer by partly allowing appeal of the Revenue, no question of law much less any substantial question arises.
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