Sec. 68 of the Income-tax Act, 1961 - Cash credit - During the proceedings before the CIT(A), the Assessee produced documents which were examined in detail. It is only after discussing the entire material in the light of the remand report of the AO, the CIT(A) came to a definite conclusion that the Assessee has been able to sufficiently explain, to the satisfaction of the CIT(A), of the identity, genuineness and creditworthiness of the creditors. This is in respect of both the additions sought to be made by the AO under section 68 of the Act, on account of alleged unexplained share application money as well as unsecured loans. The CIT(A) also deleted the addition on the question of unexplained investment and returned a categorical finding that these investments have been sufficiently explained by the Assessee. The above factual findings have been concurred with by the ITAT in a very detailed order again discussing the material available on record. High Court dismissed the Tax Appeal of the revenue. SLP also dismissed on account of low tax effect. - PR. CIT V/s A.I. DEVELOPERS (P.) LTD. - [2020] 272 TAXMAN 433 (SC)