https://www.taxtmi.com/caselaws?id=14766 The court upheld the addition under section 68 of the Income-tax Act, 1961, and disallowed interest based on the assessee's failure to prove the creditworthiness of the creditors and the genuineness of the transactions. The burden of proof was on the assessee to establish the identity of the creditors and the genuineness of the transactions, which they failed to do. The court found the Assessing Officer's investigation to be adequate and concluded that there was no violation of natural justice. The petition was dismissed as no arguable questions of law arose from the Tribunal's findings. en-us Fri, 04 Aug 2000 00:00:00 +0530 Sat, 18 Jul 2009 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14766 The court upheld the addition under section 68 of the Income-tax Act, 1961, and disallowed interest based on the assessee's failure to prove the creditworthiness of the creditors and the genuineness of the transactions. The burden of proof was on the assessee to establish the identity of the creditors and the genuineness of the transactions, which they failed to do. The court found the Assessing Officer's investigation to be adequate and concluded that there was no violation of natural justice. The petition was dismissed as no arguable questions of law arose from the Tribunal's findings. Case-Laws Income Tax Fri, 04 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14766