https://www.taxtmi.com/caselaws?id=285402 The Tribunal upheld the CIT(A)'s decision to delete the addition of unexplained cash credit under section 68 of the Income Tax Act. The Department's appeal was dismissed as the assessee fulfilled the initial burden of proof by providing details of share applicants, and the tax authorities did not find discrepancies or conduct independent verification. The judgment emphasizes the importance of meeting the burden of proof in cases of unexplained cash credits and the need for thorough verification by tax authorities. en-us Fri, 12 Aug 2011 00:00:00 +0530 Fri, 10 Jan 2020 12:47:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285402 The Tribunal upheld the CIT(A)'s decision to delete the addition of unexplained cash credit under section 68 of the Income Tax Act. The Department's appeal was dismissed as the assessee fulfilled the initial burden of proof by providing details of share applicants, and the tax authorities did not find discrepancies or conduct independent verification. The judgment emphasizes the importance of meeting the burden of proof in cases of unexplained cash credits and the need for thorough verification by tax authorities. Case-Laws Income Tax Fri, 12 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285402