https://www.taxtmi.com/caselaws?id=236609 The Tribunal held that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the loan transactions, shifting the burden to the Revenue to disprove it, which they failed to do. The additions made by the Assessing Officer were deemed speculative without substantial evidence. Consequently, the Tribunal ruled in favor of the assessee, deleting the additions for both assessment years and allowing their appeals. en-us Fri, 18 May 2012 00:00:00 +0530 Mon, 04 Apr 2016 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236609 The Tribunal held that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the loan transactions, shifting the burden to the Revenue to disprove it, which they failed to do. The additions made by the Assessing Officer were deemed speculative without substantial evidence. Consequently, the Tribunal ruled in favor of the assessee, deleting the additions for both assessment years and allowing their appeals. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236609