https://www.taxtmi.com/caselaws?id=67721 The ITAT Jaipur upheld the learned AAC's decision to delete the additions of Rs. 8000 representing cash credits and interest in the Departmental appeal for asst. yr. 1975-76. The Tribunal found that the credits in the accounts of two individuals were genuine, supported by evidence of transactions and the creditors' financial stability. The Revenue's argument of insufficient resources was dismissed for lack of contradictory evidence. The burden of proving the genuineness of cash credits rested with the assessee, and as such, the additions were deemed unjustified. The appeal by the Revenue was dismissed, and the cross objections of the assessee were upheld, resulting in the deletion of the additions. en-us Thu, 22 Feb 1979 00:00:00 +0530 Mon, 14 Mar 2011 12:20:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67721 The ITAT Jaipur upheld the learned AAC's decision to delete the additions of Rs. 8000 representing cash credits and interest in the Departmental appeal for asst. yr. 1975-76. The Tribunal found that the credits in the accounts of two individuals were genuine, supported by evidence of transactions and the creditors' financial stability. The Revenue's argument of insufficient resources was dismissed for lack of contradictory evidence. The burden of proving the genuineness of cash credits rested with the assessee, and as such, the additions were deemed unjustified. The appeal by the Revenue was dismissed, and the cross objections of the assessee were upheld, resulting in the deletion of the additions. Case-Laws Income Tax Thu, 22 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67721