https://www.taxtmi.com/caselaws?id=12623 Section 68 authorises addition of cash credits as income where the AO, on proper enquiry, is not satisfied about their genuineness; the assessee must prima facie establish the creditor's identity, creditworthiness, and transaction genuineness, and mere confirmatory letters are insufficient. Applying this standard, the HC held the Tribunal correctly distinguished one creditor's credit (supported by recorded statement, identified source of funds, and accounting entries) from the impugned credit in another creditor's name, where the onus was not shown to be conclusively discharged and further verification was warranted. The Tribunal's decision to set aside the addition for fresh enquiry rather than quash it was upheld, and the appeal was dismissed. en-us Thu, 08 Nov 2001 00:00:00 +0530 Tue, 23 Dec 2025 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12623 Section 68 authorises addition of cash credits as income where the AO, on proper enquiry, is not satisfied about their genuineness; the assessee must prima facie establish the creditor's identity, creditworthiness, and transaction genuineness, and mere confirmatory letters are insufficient. Applying this standard, the HC held the Tribunal correctly distinguished one creditor's credit (supported by recorded statement, identified source of funds, and accounting entries) from the impugned credit in another creditor's name, where the onus was not shown to be conclusively discharged and further verification was warranted. The Tribunal's decision to set aside the addition for fresh enquiry rather than quash it was upheld, and the appeal was dismissed. Case-Laws Income Tax Thu, 08 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12623