https://www.taxtmi.com/caselaws?id=388566 The Tribunal upheld the addition of unexplained cash credits under Section 68 of the Income Tax Act for the Assessment Year 2004-05. Despite receiving share application money from various entities, the appellant failed to adequately prove the identity, creditworthiness, and genuineness of the transactions. The Tribunal noted discrepancies in financial details, lack of compliance with notices, and inconsistencies in documentation, leading to doubts and suspicions. Emphasizing the appellant's failure to meet the burden of proof required, the Tribunal dismissed the appeal, affirming the addition of cash credits based on thorough examination of facts and evidence. en-us Fri, 15 Nov 2019 00:00:00 +0530 Mon, 18 Nov 2019 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388566 The Tribunal upheld the addition of unexplained cash credits under Section 68 of the Income Tax Act for the Assessment Year 2004-05. Despite receiving share application money from various entities, the appellant failed to adequately prove the identity, creditworthiness, and genuineness of the transactions. The Tribunal noted discrepancies in financial details, lack of compliance with notices, and inconsistencies in documentation, leading to doubts and suspicions. Emphasizing the appellant's failure to meet the burden of proof required, the Tribunal dismissed the appeal, affirming the addition of cash credits based on thorough examination of facts and evidence. Case-Laws Income Tax Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388566