https://www.taxtmi.com/article/detailed?id=1324 Assessee must prove genuineness, nature and source of cash credits and creditworthiness of creditors by producing confirmations, creditor particulars and contemporaneous evidence; failure to discharge this onus permits additions and penalties. While Section 106 of the Evidence Act places burden on the person with special knowledge, production of third parties may not be fully within the assessee's control and tax authorities should consider whether reasonable efforts (including seeking AO assistance to summon creditors) were made. Assessees should preserve available evidence and challenge incomplete factual findings on appeal. en-us Fri, 17 Jun 2011 23:51:31 +0530 Sat, 18 Jun 2011 07:16:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1324 Assessee must prove genuineness, nature and source of cash credits and creditworthiness of creditors by producing confirmations, creditor particulars and contemporaneous evidence; failure to discharge this onus permits additions and penalties. While Section 106 of the Evidence Act places burden on the person with special knowledge, production of third parties may not be fully within the assessee's control and tax authorities should consider whether reasonable efforts (including seeking AO assistance to summon creditors) were made. Assessees should preserve available evidence and challenge incomplete factual findings on appeal. Articles Income Tax Fri, 17 Jun 2011 23:51:31 +0530 https://www.taxtmi.com/article/detailed?id=1324