https://www.taxtmi.com/caselaws?id=384550 The High Court upheld the Tribunal's decision, stating that the assessee failed to prove the creditworthiness of the creditors and the genuineness of the transactions, leading to the addition under Section 68 for unexplained cash credits. The Court found no error in the Tribunal's detailed reasoning and concurred with the lower authorities' factual findings. The judgment highlighted the necessity of establishing the creditor's identity, creditworthiness, and transaction genuineness to avoid adverse implications under Section 68. en-us Tue, 13 Aug 2019 00:00:00 +0530 Fri, 20 Sep 2019 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384550 The High Court upheld the Tribunal's decision, stating that the assessee failed to prove the creditworthiness of the creditors and the genuineness of the transactions, leading to the addition under Section 68 for unexplained cash credits. The Court found no error in the Tribunal's detailed reasoning and concurred with the lower authorities' factual findings. The judgment highlighted the necessity of establishing the creditor's identity, creditworthiness, and transaction genuineness to avoid adverse implications under Section 68. Case-Laws Income Tax Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384550