https://www.taxtmi.com/caselaws?id=206481 The Tribunal upheld the addition of Rs.40,000 as unexplained income under Section 68 of the Income Tax Act. The court emphasized the assessee's burden to prove the genuineness of credits and the creditor's obligation to explain the source of money. Despite the appellant's challenges, the Tribunal's decision was considered reasonable and not falling within the scope of appeal. The appeal was dismissed, affirming the addition of Rs.40,000 as justified unexplained income. en-us Fri, 03 Dec 2010 00:00:00 +0530 Tue, 28 Jun 2011 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206481 The Tribunal upheld the addition of Rs.40,000 as unexplained income under Section 68 of the Income Tax Act. The court emphasized the assessee's burden to prove the genuineness of credits and the creditor's obligation to explain the source of money. Despite the appellant's challenges, the Tribunal's decision was considered reasonable and not falling within the scope of appeal. The appeal was dismissed, affirming the addition of Rs.40,000 as justified unexplained income. Case-Laws Income Tax Fri, 03 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206481