https://www.taxtmi.com/caselaws?id=240319 The High Court found the orders of the CIT (Appeals) and the ITAT to be perverse and unsustainable, emphasizing that the Assessee failed to establish the identity, creditworthiness, and genuineness of transactions. The Court held that the Assessee did not discharge the onus of proof satisfactorily. The appeal was allowed in favor of the Revenue, with costs assessed at Rs. 20,000, and the additions made by the Assessing Officer were deemed justified and sustainable. en-us Thu, 28 Nov 2013 00:00:00 +0530 Mon, 29 Jun 2026 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240319 The High Court found the orders of the CIT (Appeals) and the ITAT to be perverse and unsustainable, emphasizing that the Assessee failed to establish the identity, creditworthiness, and genuineness of transactions. The Court held that the Assessee did not discharge the onus of proof satisfactorily. The appeal was allowed in favor of the Revenue, with costs assessed at Rs. 20,000, and the additions made by the Assessing Officer were deemed justified and sustainable. Case-Laws Income Tax Thu, 28 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240319