https://www.taxtmi.com/caselaws?id=204073 The Court upheld the sustained additions of unexplained cash credits, as the assessee failed to establish the genuineness of most deposits despite multiple opportunities. The Tribunal granted a chance to prove the genuineness of four depositors but found the identity, creditworthiness, and genuineness of the majority of deposits unproven. The Court rejected the argument that affidavits alone were sufficient evidence, emphasizing the assessee's failure to provide corroborative evidence. The appeal was dismissed, with the Court finding no merit in the arguments and upholding the additions based on the facts presented. en-us Tue, 30 Nov 2010 00:00:00 +0530 Sat, 02 Jul 2011 08:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204073 The Court upheld the sustained additions of unexplained cash credits, as the assessee failed to establish the genuineness of most deposits despite multiple opportunities. The Tribunal granted a chance to prove the genuineness of four depositors but found the identity, creditworthiness, and genuineness of the majority of deposits unproven. The Court rejected the argument that affidavits alone were sufficient evidence, emphasizing the assessee's failure to provide corroborative evidence. The appeal was dismissed, with the Court finding no merit in the arguments and upholding the additions based on the facts presented. Case-Laws Income Tax Tue, 30 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204073