https://www.taxtmi.com/caselaws?id=18067 HC held that the assessee met its onus regarding cash credits where loan receipts were declared in the assessee's return and corresponding creditors also declared the loans in their returns, which the Income-tax Officer had accepted. The HC found no cogent reason to ignore those accepted returns and concluded the amounts were prima facie genuine. Questions were answered against the Revenue and in favour of the assessee, reversing the disallowance of interest attributable to the cash credits. en-us Wed, 07 Aug 1996 00:00:00 +0530 Tue, 14 Oct 2025 22:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18067 HC held that the assessee met its onus regarding cash credits where loan receipts were declared in the assessee's return and corresponding creditors also declared the loans in their returns, which the Income-tax Officer had accepted. The HC found no cogent reason to ignore those accepted returns and concluded the amounts were prima facie genuine. Questions were answered against the Revenue and in favour of the assessee, reversing the disallowance of interest attributable to the cash credits. Case-Laws Income Tax Wed, 07 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18067