https://www.taxtmi.com/caselaws?id=250729 The HC held that the assessee bears the initial onus to prove the genuineness of credit entries by identifying the creditor and source of funds. Once the assessee demonstrates these entries are genuine and received from third parties, the burden shifts to the AO to prove otherwise. The AO failed to summon relevant parties or verify bank transactions under s. 131, thus not discharging the burden to establish the entries as the assessee's income. The Tribunal's deletion of the addition under s. 68 was upheld. The decision was against Revenue. en-us Tue, 28 Jan 2014 00:00:00 +0530 Wed, 13 Aug 2025 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250729 The HC held that the assessee bears the initial onus to prove the genuineness of credit entries by identifying the creditor and source of funds. Once the assessee demonstrates these entries are genuine and received from third parties, the burden shifts to the AO to prove otherwise. The AO failed to summon relevant parties or verify bank transactions under s. 131, thus not discharging the burden to establish the entries as the assessee's income. The Tribunal's deletion of the addition under s. 68 was upheld. The decision was against Revenue. Case-Laws Income Tax Tue, 28 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250729