https://www.taxtmi.com/caselaws?id=377519 In an unexplained credit matter, the assessee had to prove the identity, creditworthiness and genuineness of the alleged refund of advance, but produced no confirmation, agreement, property details or other supporting material. The Tribunal held that, where the books reflect a credit entry and surrounding material suggests an accommodation entry, the primary onus remains on the assessee; the addition under section 68 was sustained. For the related commission claim, the Tribunal accepted that accommodation entries ordinarily involve commission payment and found the 5% estimate reasonable on the facts, so the addition under section 69C was also sustained. en-us Mon, 25 Mar 2019 00:00:00 +0530 Fri, 29 Mar 2019 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377519 In an unexplained credit matter, the assessee had to prove the identity, creditworthiness and genuineness of the alleged refund of advance, but produced no confirmation, agreement, property details or other supporting material. The Tribunal held that, where the books reflect a credit entry and surrounding material suggests an accommodation entry, the primary onus remains on the assessee; the addition under section 68 was sustained. For the related commission claim, the Tribunal accepted that accommodation entries ordinarily involve commission payment and found the 5% estimate reasonable on the facts, so the addition under section 69C was also sustained. Case-Laws Income Tax Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377519