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of <h1>High Court allows deletion of amounts from total income for assessment years 1964-65 & 1965-66</h1> <h3>Commissioner Of Income-Tax Versus Lohaty Brothers Pvt. Limited</h3> Commissioner Of Income-Tax Versus Lohaty Brothers Pvt. Limited - [1987] 164 ITR 730, 53 CTR 150, 26 TAXMANN 226 The High Court of Calcutta ruled in favor of the assessee regarding the deletion of certain amounts from their total income for assessment years 1964-65 and 1965-66. The court found that the loans claimed by the assessee were genuine and that the onus of proving the genuineness of cash credits had been discharged. The Tribunal's decision was upheld, and no costs were awarded.
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