https://www.taxtmi.com/caselaws?id=379303 The Court dismissed the appeal regarding the addition of &8377;1,01,62,085/- under Section 68 of the Income Tax Act. It held that the assessee failed to sufficiently establish the genuineness of unsecured loans claimed from agriculturists, despite providing some documentation. Emphasizing the assessee's burden to prove the legitimacy of credits, the Court found the evidence presented inadequate. The judgment highlights the necessity for assessees to meet evidentiary standards in demonstrating the authenticity of transactions, particularly in cases involving unexplained credits under Section 68. en-us Wed, 06 Mar 2019 00:00:00 +0530 Wed, 01 May 2019 06:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379303 The Court dismissed the appeal regarding the addition of &8377;1,01,62,085/- under Section 68 of the Income Tax Act. It held that the assessee failed to sufficiently establish the genuineness of unsecured loans claimed from agriculturists, despite providing some documentation. Emphasizing the assessee's burden to prove the legitimacy of credits, the Court found the evidence presented inadequate. The judgment highlights the necessity for assessees to meet evidentiary standards in demonstrating the authenticity of transactions, particularly in cases involving unexplained credits under Section 68. Case-Laws Income Tax Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379303