Genuineness of cash loan accepted where lender confirmation, bank details, and remand evidence discharged the assessee's burden.

The genuineness of a cash loan from the assessee's brother-in-law was accepted after the Tribunal considered remand statements, the lender's confirmation, the explanation of the lender's source and bank account, and the close relationship between the parties. On that evidence, the assessee was held to have discharged the initial burden of proving the loan, and the Revenue failed to produce contrary material to dislodge it. The addition made on account of the alleged unexplained loan was therefore deleted in favour of the assessee.

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Issues: Whether the assessee had proved the genuineness of the cash loan of Rs. 8,00,000 allegedly received from his brother-in-law, so as to warrant deletion of the addition made by the Assessing Officer.

Analysis: The Tribunal relied on the statements recorded during the remand proceedings, the confirmation by the lender, the explanation of the lender's source and bank account, and the surrounding relationship between the parties. It held that the assessee had discharged the initial burden of proving the loan and that the Revenue had not brought any contrary material to dislodge the evidence produced.

Conclusion: The loan was accepted as proved and the addition of Rs. 8,00,000 was deleted in favour of the assessee.

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