https://www.taxtmi.com/caselaws?id=178627 The Kerala High Court upheld the Tribunal's decision to add cash credits under section 68 of the Income-tax Act. The Court agreed that without proof of the source of funds from close relatives who were loan creditors, the credits could not be accepted as genuine. The absence of evidence on the repayment of the loans through account payee cheques further weakened the assessee's case. As no additional evidence could be considered at that stage, the appeal was dismissed, affirming the Tribunal's order. en-us Wed, 04 Jun 2008 00:00:00 +0530 Fri, 05 Jun 2026 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178627 The Kerala High Court upheld the Tribunal's decision to add cash credits under section 68 of the Income-tax Act. The Court agreed that without proof of the source of funds from close relatives who were loan creditors, the credits could not be accepted as genuine. The absence of evidence on the repayment of the loans through account payee cheques further weakened the assessee's case. As no additional evidence could be considered at that stage, the appeal was dismissed, affirming the Tribunal's order. Case-Laws Income Tax Wed, 04 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178627