https://www.taxtmi.com/caselaws?id=190468 The High Court dismissed the Commissioner of Income Tax's appeal against the Lucknow Bench of the Income Tax Appellate Tribunal's order for the assessment year 2004-2005. The additions made under Section 69 of the Income Tax Act, 1961, totaling Rs. 25,05,000 and Rs. 10,15,000, were found unjustified as the assessee successfully discharged the onus regarding the sources of income and loans. The Court upheld that the identity of the lender, a public limited company regularly assessed to income tax, was established, and no further examination of the source of source was necessary. en-us Tue, 17 Nov 2009 00:00:00 +0530 Sat, 02 Sep 2023 20:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190468 The High Court dismissed the Commissioner of Income Tax's appeal against the Lucknow Bench of the Income Tax Appellate Tribunal's order for the assessment year 2004-2005. The additions made under Section 69 of the Income Tax Act, 1961, totaling Rs. 25,05,000 and Rs. 10,15,000, were found unjustified as the assessee successfully discharged the onus regarding the sources of income and loans. The Court upheld that the identity of the lender, a public limited company regularly assessed to income tax, was established, and no further examination of the source of source was necessary. Case-Laws Income Tax Tue, 17 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190468