https://www.taxtmi.com/caselaws?id=218838 The High Court upheld the ITAT's decision regarding the identity and creditworthiness of companies involved in the case. The Court found that the companies were genuine, had sufficient funds for the transactions, and their creditworthiness was proven through various documents. The Court also agreed with the ITAT's approach of focusing on the original source of funds rather than the source of the source. The judgment emphasizes the importance of proving creditworthiness and genuineness of transactions under section 68 of the IT Act. en-us Thu, 01 Nov 2012 00:00:00 +0530 Tue, 27 Nov 2012 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218838 The High Court upheld the ITAT's decision regarding the identity and creditworthiness of companies involved in the case. The Court found that the companies were genuine, had sufficient funds for the transactions, and their creditworthiness was proven through various documents. The Court also agreed with the ITAT's approach of focusing on the original source of funds rather than the source of the source. The judgment emphasizes the importance of proving creditworthiness and genuineness of transactions under section 68 of the IT Act. Case-Laws Income Tax Thu, 01 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218838