https://www.taxtmi.com/caselaws?id=236905 The Tribunal partly allowed the assessee's appeal, directing the deletion of additions made under Section 68 of the I.T. Act for deposits received in earlier years and certain unexplained loan credits. The judgment stressed the necessity of establishing the identity, creditworthiness, and genuineness of transactions, while acknowledging the assessee's limited burden in proving the source of creditors' funds. The appeal was partly allowed for statistical purposes, with some loans accepted as genuine based on creditor statements and bank records, and others remanded for further verification. en-us Fri, 11 Jan 2013 00:00:00 +0530 Wed, 30 Oct 2013 14:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236905 The Tribunal partly allowed the assessee's appeal, directing the deletion of additions made under Section 68 of the I.T. Act for deposits received in earlier years and certain unexplained loan credits. The judgment stressed the necessity of establishing the identity, creditworthiness, and genuineness of transactions, while acknowledging the assessee's limited burden in proving the source of creditors' funds. The appeal was partly allowed for statistical purposes, with some loans accepted as genuine based on creditor statements and bank records, and others remanded for further verification. Case-Laws Income Tax Fri, 11 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236905