https://www.taxtmi.com/caselaws?id=326395 Primary documentary evidence of identity, genuineness and fund flow discharges the assessee's initial burden for unsecured loans, and in the absence of adverse material the addition is not justified. Advances received from customers in the ordinary course of business, supported by confirmations and regular records, cannot be treated as unexplained cash credits or as cessation of liability without proof that the credits are bogus or that the liability has ceased. Partner capital introduced through confirmed banking and tax records is not taxable as unexplained when the Revenue does not rebut the evidence. A trading addition for alleged excessive material consumption cannot stand without defects in the books or corroborative evidence of suppression or inflation. en-us Mon, 07 Mar 2016 00:00:00 +0530 Thu, 14 Apr 2016 10:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326395 Primary documentary evidence of identity, genuineness and fund flow discharges the assessee's initial burden for unsecured loans, and in the absence of adverse material the addition is not justified. Advances received from customers in the ordinary course of business, supported by confirmations and regular records, cannot be treated as unexplained cash credits or as cessation of liability without proof that the credits are bogus or that the liability has ceased. Partner capital introduced through confirmed banking and tax records is not taxable as unexplained when the Revenue does not rebut the evidence. A trading addition for alleged excessive material consumption cannot stand without defects in the books or corroborative evidence of suppression or inflation. Case-Laws Income Tax Mon, 07 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326395