https://www.taxtmi.com/caselaws?id=393196 The court ruled in favor of the appellant, a construction company, in an income tax case for the assessment year 2005-06. The court held that the burden of proving the transaction's genuineness lies with the party claiming it, and since the appellant provided evidence of the creditor's identity and creditworthiness, the burden shifted to the revenue to conduct an inquiry. As the revenue failed to discharge its burden, the court quashed the tribunal's order and allowed the appeal, overturning the previous decision and differentiating it from a cited case. en-us Fri, 31 Jan 2020 00:00:00 +0530 Mon, 31 Aug 2020 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393196 The court ruled in favor of the appellant, a construction company, in an income tax case for the assessment year 2005-06. The court held that the burden of proving the transaction's genuineness lies with the party claiming it, and since the appellant provided evidence of the creditor's identity and creditworthiness, the burden shifted to the revenue to conduct an inquiry. As the revenue failed to discharge its burden, the court quashed the tribunal's order and allowed the appeal, overturning the previous decision and differentiating it from a cited case. Case-Laws Income Tax Fri, 31 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393196