https://www.taxtmi.com/caselaws?id=247581 The High Court dismissed the Department's appeal, upholding the Tribunal's decision that the cash credit received by the assessee from eight creditors during the assessment year was genuine. The Court found that the Assessing Officer and Tribunal had thoroughly examined the transaction, establishing the identity, genuineness, and creditworthiness of the creditors. As no substantial question of law arose, the Court affirmed the Tribunal's decision, concluding that the cash credit was valid for the assessment year in question. en-us Thu, 08 May 2014 00:00:00 +0530 Fri, 16 May 2014 08:38:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247581 The High Court dismissed the Department's appeal, upholding the Tribunal's decision that the cash credit received by the assessee from eight creditors during the assessment year was genuine. The Court found that the Assessing Officer and Tribunal had thoroughly examined the transaction, establishing the identity, genuineness, and creditworthiness of the creditors. As no substantial question of law arose, the Court affirmed the Tribunal's decision, concluding that the cash credit was valid for the assessment year in question. Case-Laws Income Tax Thu, 08 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247581