https://www.taxtmi.com/caselaws?id=76498 The High Court upheld the Tribunal's decision to dismiss the Revenue's appeal in a case concerning unexplained cash credits and disallowed losses. The Court found that the Tribunal's reliance on corresponding entries in the books of account and identification of parties was sufficient to support the deletion of the cash credit addition. It emphasized that the books should indicate the creditor's capacity, relieving the assessee from proving it separately. The Court concluded that the Tribunal's decision was reasonable, leading to the dismissal of the Revenue's appeal. en-us Mon, 30 Mar 2009 00:00:00 +0530 Wed, 30 Jan 2013 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76498 The High Court upheld the Tribunal's decision to dismiss the Revenue's appeal in a case concerning unexplained cash credits and disallowed losses. The Court found that the Tribunal's reliance on corresponding entries in the books of account and identification of parties was sufficient to support the deletion of the cash credit addition. It emphasized that the books should indicate the creditor's capacity, relieving the assessee from proving it separately. The Court concluded that the Tribunal's decision was reasonable, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Mon, 30 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76498