https://www.taxtmi.com/caselaws?id=243529 The High Court dismissed the Tax Appeal, upholding the decisions of the CIT (Appeals) and the Tribunal. The judgment emphasized the importance of providing evidence to support claims of unexplained cash credits and distinguishing between legitimate capital introductions by partners and unaccounted income of the firm. The burden of proof under section 68 of the Income Tax Act was central, requiring the Assessing Officer to substantiate claims of unexplained income with concrete evidence. en-us Mon, 13 Jan 2014 00:00:00 +0530 Sat, 07 Jun 2014 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243529 The High Court dismissed the Tax Appeal, upholding the decisions of the CIT (Appeals) and the Tribunal. The judgment emphasized the importance of providing evidence to support claims of unexplained cash credits and distinguishing between legitimate capital introductions by partners and unaccounted income of the firm. The burden of proof under section 68 of the Income Tax Act was central, requiring the Assessing Officer to substantiate claims of unexplained income with concrete evidence. Case-Laws Income Tax Mon, 13 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243529