https://www.taxtmi.com/caselaws?id=18509 HC held that the assessee, a cloth dealer operating through a proprietary concern, had discharged the initial burden under s. 68 by establishing the identity of the creditor and producing prima facie evidence that the cash credit entries were not fictitious. The additions made as undisclosed income and the disallowance of corresponding interest therefore raised substantial questions of law. Concluding that the Tribunal's findings involved issues of law regarding the treatment of the cash credits and interest thereon, HC allowed the reference application and directed the Tribunal to state the case and refer the framed questions of law for its opinion. en-us Fri, 12 Jan 1996 00:00:00 +0530 Mon, 15 Dec 2025 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18509 HC held that the assessee, a cloth dealer operating through a proprietary concern, had discharged the initial burden under s. 68 by establishing the identity of the creditor and producing prima facie evidence that the cash credit entries were not fictitious. The additions made as undisclosed income and the disallowance of corresponding interest therefore raised substantial questions of law. Concluding that the Tribunal's findings involved issues of law regarding the treatment of the cash credits and interest thereon, HC allowed the reference application and directed the Tribunal to state the case and refer the framed questions of law for its opinion. Case-Laws Income Tax Fri, 12 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18509