https://www.taxtmi.com/caselaws?id=269987 Section 68 requires the assessee to explain only the immediate credit transaction by proving the creditor's identity, genuineness and creditworthiness. Once that initial burden is discharged, the revenue must make further inquiry if it doubts the source of the creditor's funds. The assessee is not required to prove the genuineness of transactions between the creditor and any sub-creditor, or the sub-creditor's creditworthiness, because the provision does not extend the burden that far. On that basis, the addition was unsustainable. en-us Mon, 21 Dec 2015 00:00:00 +0530 Mon, 08 Dec 2025 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269987 Section 68 requires the assessee to explain only the immediate credit transaction by proving the creditor's identity, genuineness and creditworthiness. Once that initial burden is discharged, the revenue must make further inquiry if it doubts the source of the creditor's funds. The assessee is not required to prove the genuineness of transactions between the creditor and any sub-creditor, or the sub-creditor's creditworthiness, because the provision does not extend the burden that far. On that basis, the addition was unsustainable. Case-Laws Income Tax Mon, 21 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269987