https://www.taxtmi.com/caselaws?id=174659 The High Court dismissed the revenue's appeal, emphasizing that the burden of proving the credit worthiness of creditors does not lie on the assessee. The court highlighted that the Assessing Officers of the creditors have the responsibility to question and investigate the sources of funds, and in the absence of evidence, the amounts cannot be treated as belonging to the assessee from undisclosed sources. en-us Fri, 25 Nov 2011 00:00:00 +0530 Thu, 07 Sep 2017 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174659 The High Court dismissed the revenue's appeal, emphasizing that the burden of proving the credit worthiness of creditors does not lie on the assessee. The court highlighted that the Assessing Officers of the creditors have the responsibility to question and investigate the sources of funds, and in the absence of evidence, the amounts cannot be treated as belonging to the assessee from undisclosed sources. Case-Laws Income Tax Fri, 25 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174659