https://www.taxtmi.com/caselaws?id=10651 Where an assessee-bank produces depositors' particulars, affidavits, inspection material and supporting statements showing that fixed deposit credits are attributable to identifiable third parties, the primary burden under section 68 is discharged. The Revenue must then rebut that prima facie evidence; a mere discrepancy in records or failure to prove the depositors' source does not by itself justify treating the credits, or consequential interest, as the bank's income. On these facts, the additions were deleted because the Assessing Officer acted on surmise rather than evidence. en-us Wed, 29 Jun 2005 00:00:00 +0530 Sat, 20 Sep 2025 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10651 Where an assessee-bank produces depositors' particulars, affidavits, inspection material and supporting statements showing that fixed deposit credits are attributable to identifiable third parties, the primary burden under section 68 is discharged. The Revenue must then rebut that prima facie evidence; a mere discrepancy in records or failure to prove the depositors' source does not by itself justify treating the credits, or consequential interest, as the bank's income. On these facts, the additions were deleted because the Assessing Officer acted on surmise rather than evidence. Case-Laws Income Tax Wed, 29 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10651