Case Law Analysis
|Income Tax Appellate Tribunal
Section 68 IT Act | Sale Agreement Validates Cash Credit Even If Creditworthiness Proved Post-Assessment: ITAT Delhi
ITAT Delhi rules that a valid sale agreement and subsequent proof of creditworthiness-even if established post-assessment-are sufficient to set aside Section 68 additions. This precedent strengthens taxpayers' defense against unexplained cash credit additions where property transactions are involved.