https://www.taxtmi.com/caselaws?id=177803 The HC allowed the appeal, ruling in favor of the assessee and against the revenue. It held that the assessee discharged the burden to prove the identity, capacity, and genuineness of the creditors and cash credits through documentary evidence and lender testimony. The Court rejected the requirement to prove the source of the source of funds, aligning with the precedent set in Daulat Ram and Mangilal cases. Consequently, additions of Rs. 50,000 each made in the assessee's income for certain cash credits were deleted. en-us Mon, 28 Apr 2008 00:00:00 +0530 Wed, 13 Aug 2025 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177803 The HC allowed the appeal, ruling in favor of the assessee and against the revenue. It held that the assessee discharged the burden to prove the identity, capacity, and genuineness of the creditors and cash credits through documentary evidence and lender testimony. The Court rejected the requirement to prove the source of the source of funds, aligning with the precedent set in Daulat Ram and Mangilal cases. Consequently, additions of Rs. 50,000 each made in the assessee's income for certain cash credits were deleted. Case-Laws Income Tax Mon, 28 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177803