ITAT Deletes Section 68 Additions Once Identity, Creditworthiness & Genuineness Are Proven

ITAT Deletes Section 68 Additions Once Identity, Creditworthiness & Genuineness Are Proven

ITAT Deletes Section 68 Additions Once Identity, Creditworthiness & Genuineness Are Proven The Income Tax Appellate Tribunal (ITAT), Delhi, dismissed the appeals filed by the Income Tax Department, as the assessee had sufficiently submitted documents to substantiate the genuineness of the transactions. The assessee, Gemco Energy Ltd., is engaged in the production of electricity from biomass, […]