https://www.taxtmi.com/caselaws?id=20137 HC upheld the Revenue's additions under s.256(2) for income from undisclosed sources, finding the assessee failed to prove creditors' identities, creditworthiness and genuineness of loans. Despite prolonged opportunities, documents and verifications were not produced, investigators could not trace most creditors, and bank cheques alone were held insufficient to establish genuineness. The Tribunal erred in presuming transactions genuine merely because they passed through bank accounts. The appeal was dismissed and the additions sustained in favour of the Revenue. en-us Mon, 14 Jun 1993 00:00:00 +0530 Tue, 28 Jul 2026 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20137 HC upheld the Revenue's additions under s.256(2) for income from undisclosed sources, finding the assessee failed to prove creditors' identities, creditworthiness and genuineness of loans. Despite prolonged opportunities, documents and verifications were not produced, investigators could not trace most creditors, and bank cheques alone were held insufficient to establish genuineness. The Tribunal erred in presuming transactions genuine merely because they passed through bank accounts. The appeal was dismissed and the additions sustained in favour of the Revenue. Case-Laws Income Tax Mon, 14 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20137