https://www.taxtmi.com/circulars?id=8744 The onus of proving cash credits or loans in the taxpayer's books is on the taxpayer, who must be asked by written show cause notice to establish the nature and source and to produce discharged hundi khokas or other proof. Documents should be proved by producing the signatory lenders; affidavits or confirmatory letters are insufficient unless the lender is produced for identification and examination. Failure by the taxpayer to produce or request production of the alleged lender permits the ITO to reject such uncorroborated evidence after recording that fact. Confessional statements require independent corroboration and additions must reflect the taxpayer's failure to prove the credits. en-us Fri, 18 Sep 1970 00:00:00 +0530 Thu, 26 May 2011 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8744 The onus of proving cash credits or loans in the taxpayer's books is on the taxpayer, who must be asked by written show cause notice to establish the nature and source and to produce discharged hundi khokas or other proof. Documents should be proved by producing the signatory lenders; affidavits or confirmatory letters are insufficient unless the lender is produced for identification and examination. Failure by the taxpayer to produce or request production of the alleged lender permits the ITO to reject such uncorroborated evidence after recording that fact. Confessional statements require independent corroboration and additions must reflect the taxpayer's failure to prove the credits. Circulars Income Tax Fri, 18 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8744