https://www.taxtmi.com/caselaws?id=119890 In cash credit cases, the assessee must prove identity, creditworthiness and genuineness with credible evidence; where bank activity, cash deposits and surrounding circumstances make the explanation improbable on human probabilities, section 68 addition is sustained. On depreciation, actual user during the relevant year is decisive, and proof of delivery, hire bills and other records can support full-year allowance even without motor vehicle registration. The document also notes that disallowance for personal use of telephone, car depreciation and vehicle expenses may be sustained where factual basis is not displaced, while a separate addition for closing stock or work-in-progress is not warranted if receipts are already consistently accounted for in gross receipts. en-us Fri, 29 Sep 2006 00:00:00 +0530 Fri, 13 Jul 2012 18:13:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119890 In cash credit cases, the assessee must prove identity, creditworthiness and genuineness with credible evidence; where bank activity, cash deposits and surrounding circumstances make the explanation improbable on human probabilities, section 68 addition is sustained. On depreciation, actual user during the relevant year is decisive, and proof of delivery, hire bills and other records can support full-year allowance even without motor vehicle registration. The document also notes that disallowance for personal use of telephone, car depreciation and vehicle expenses may be sustained where factual basis is not displaced, while a separate addition for closing stock or work-in-progress is not warranted if receipts are already consistently accounted for in gross receipts. Case-Laws Income Tax Fri, 29 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119890