https://www.taxtmi.com/highlights?id=52220 Addition u/s 68 - whether an assessee who has taken a loan is bound to produce the source of source? - Held No - The appellant having proved the identity and credit worthiness of the party as well as the genuineness of the transaction had discharged its burden and it was for the revenue to conduct an enquiry and to prove that the transaction in question was not genuine and the identity of the creditor was not established and it had no credit worthiness. - HC en-us Sat, 07 Mar 2020 10:36:48 +0530 Sat, 07 Mar 2020 10:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=52220 Addition u/s 68 - whether an assessee who has taken a loan is bound to produce the source of source? - Held No - The appellant having proved the identity and credit worthiness of the party as well as the genuineness of the transaction had discharged its burden and it was for the revenue to conduct an enquiry and to prove that the transaction in question was not genuine and the identity of the creditor was not established and it had no credit worthiness. - HC Highlights Income Tax Sat, 07 Mar 2020 10:36:48 +0530 https://www.taxtmi.com/highlights?id=52220