https://www.taxtmi.com/caselaws?id=375959 The Tribunal ruled in favor of the assessee, deleting the additions made under section 68 as unexplained cash credit in all three assessment years. The Tribunal emphasized that the burden of proof cannot be placed on the assessee to prove a negative assertion and highlighted the revenue authorities' failure to gather evidence contradicting the assessee's denial of ownership and ongoing Civil Suit alleging fraud and forgery. The Tribunal concluded that the additions were unjustified, noting that the revenue should have obtained evidence to disprove the assessee's claims instead of solely relying on the assessee to prove non-ownership. en-us Wed, 19 Dec 2018 00:00:00 +0530 Thu, 28 Feb 2019 07:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375959 The Tribunal ruled in favor of the assessee, deleting the additions made under section 68 as unexplained cash credit in all three assessment years. The Tribunal emphasized that the burden of proof cannot be placed on the assessee to prove a negative assertion and highlighted the revenue authorities' failure to gather evidence contradicting the assessee's denial of ownership and ongoing Civil Suit alleging fraud and forgery. The Tribunal concluded that the additions were unjustified, noting that the revenue should have obtained evidence to disprove the assessee's claims instead of solely relying on the assessee to prove non-ownership. Case-Laws Income Tax Wed, 19 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375959