https://www.taxtmi.com/caselaws?id=258451 Cash credits recorded in an assessee's books will attract addition under section 68 of the Income-tax Act unless satisfactorily explained with supporting material. Where the explanation rests on alleged share sales or repayment of dues, the assessee must produce evidence within its special knowledge, such as sold notes, confirmations, or witness testimony from the broker, buyer, or debtor. Failure to do so leaves the burden undischarged and permits adverse inference under section 114(g) of the Evidence Act, read with section 106 on facts especially within personal knowledge. The addition was therefore sustained and the Tribunal's deletion could not stand. en-us Tue, 13 Jan 2015 00:00:00 +0530 Fri, 10 Apr 2015 09:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258451 Cash credits recorded in an assessee's books will attract addition under section 68 of the Income-tax Act unless satisfactorily explained with supporting material. Where the explanation rests on alleged share sales or repayment of dues, the assessee must produce evidence within its special knowledge, such as sold notes, confirmations, or witness testimony from the broker, buyer, or debtor. Failure to do so leaves the burden undischarged and permits adverse inference under section 114(g) of the Evidence Act, read with section 106 on facts especially within personal knowledge. The addition was therefore sustained and the Tribunal's deletion could not stand. Case-Laws Income Tax Tue, 13 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258451