https://www.taxtmi.com/caselaws?id=381930 The court upheld the findings of the CIT (Appeals) and ITAT that the assessee satisfactorily explained the nature and source of the sums credited in his account, establishing the identity of the creditor and the genuineness of the transactions. The court found that the deletion of unexplained cash credits was justified as the assessee had discharged the burden of proof required by law. Previous Settlement Commission orders accepting similar transactions as genuine further supported the assessee's case. Allegations of fraud and misrepresentation were considered but did not alter the court's decision to dismiss the appeal, as the lower authorities' findings were deemed appropriate. en-us Tue, 18 Jun 2019 00:00:00 +0530 Mon, 05 Aug 2019 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381930 The court upheld the findings of the CIT (Appeals) and ITAT that the assessee satisfactorily explained the nature and source of the sums credited in his account, establishing the identity of the creditor and the genuineness of the transactions. The court found that the deletion of unexplained cash credits was justified as the assessee had discharged the burden of proof required by law. Previous Settlement Commission orders accepting similar transactions as genuine further supported the assessee's case. Allegations of fraud and misrepresentation were considered but did not alter the court's decision to dismiss the appeal, as the lower authorities' findings were deemed appropriate. Case-Laws Income Tax Tue, 18 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381930