https://www.taxtmi.com/caselaws?id=214496 Where an assessee substantiates a cash credit with the lender's confirmation, PAN and address, bank records showing cheque-based receipt, and supporting recovery proceedings, the primary burden under sections 68 and 69 is discharged. The Tribunal noted that the Revenue did not carry out further enquiry or rebut the documentary evidence, nor establish that the creditor lacked creditworthiness or that the transaction was fictitious. Applying the settled burden-shifting principle, it held that the unexplained cash credit addition was not sustainable and upheld deletion of the addition. en-us Thu, 31 May 2012 00:00:00 +0530 Wed, 04 Jul 2012 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214496 Where an assessee substantiates a cash credit with the lender's confirmation, PAN and address, bank records showing cheque-based receipt, and supporting recovery proceedings, the primary burden under sections 68 and 69 is discharged. The Tribunal noted that the Revenue did not carry out further enquiry or rebut the documentary evidence, nor establish that the creditor lacked creditworthiness or that the transaction was fictitious. Applying the settled burden-shifting principle, it held that the unexplained cash credit addition was not sustainable and upheld deletion of the addition. Case-Laws Income Tax Thu, 31 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214496