https://www.taxtmi.com/caselaws?id=13310 The High Court affirmed the lower authorities' findings regarding the genuineness of loans obtained by the assessee from a Sikkim-based company. The court emphasized the factual nature of assessing the lender's legitimacy and capacity to lend. It upheld the deletion of the added income by the Assessing Officer, as the burden of proof was met by the assessee in demonstrating the authenticity of the transactions. The High Court dismissed the Revenue's appeals, as no legal issues or substantial questions of law were identified in the case. en-us Mon, 28 Nov 2005 00:00:00 +0530 Thu, 28 May 2009 10:59:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13310 The High Court affirmed the lower authorities' findings regarding the genuineness of loans obtained by the assessee from a Sikkim-based company. The court emphasized the factual nature of assessing the lender's legitimacy and capacity to lend. It upheld the deletion of the added income by the Assessing Officer, as the burden of proof was met by the assessee in demonstrating the authenticity of the transactions. The High Court dismissed the Revenue's appeals, as no legal issues or substantial questions of law were identified in the case. Case-Laws Income Tax Mon, 28 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13310