https://www.taxtmi.com/caselaws?id=393813 The Tribunal ruled in favor of the assessee, deleting the addition of unexplained credits under Section 68 of the Act. The Tribunal found that the assessee had established the genuineness of the transactions and proved the identity and creditworthiness of the lender. By allowing the ground argued by the assessee's counsel, the Tribunal partly allowed the appeal, emphasizing the shift of the burden of proof to the department once the initial burden is discharged by the assessee. en-us Thu, 19 Mar 2020 00:00:00 +0530 Mon, 23 Mar 2020 12:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393813 The Tribunal ruled in favor of the assessee, deleting the addition of unexplained credits under Section 68 of the Act. The Tribunal found that the assessee had established the genuineness of the transactions and proved the identity and creditworthiness of the lender. By allowing the ground argued by the assessee's counsel, the Tribunal partly allowed the appeal, emphasizing the shift of the burden of proof to the department once the initial burden is discharged by the assessee. Case-Laws Income Tax Thu, 19 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393813