https://www.taxtmi.com/caselaws?id=24197 The court upheld the Commissioner of Income-tax (Appeals)' decision to add Rs. 5,00,000 to a firm's income for unexplained cash credits, with Rs. 2,00,000 attributed to the first period and Rs. 3,00,000 to the second period. The Income-tax Appellate Tribunal affirmed this decision, finding the transactions lacked genuineness. The court dismissed the original petition seeking legal questions, stating no legal issues arose and emphasizing the factual nature of proving the authenticity of cash credits, money receipts, and tea sales. The judgment underscores the importance of substantiating transactions to avoid income tax additions. en-us Sat, 28 Jan 1989 00:00:00 +0530 Mon, 18 Jan 2010 14:28:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24197 The court upheld the Commissioner of Income-tax (Appeals)' decision to add Rs. 5,00,000 to a firm's income for unexplained cash credits, with Rs. 2,00,000 attributed to the first period and Rs. 3,00,000 to the second period. The Income-tax Appellate Tribunal affirmed this decision, finding the transactions lacked genuineness. The court dismissed the original petition seeking legal questions, stating no legal issues arose and emphasizing the factual nature of proving the authenticity of cash credits, money receipts, and tea sales. The judgment underscores the importance of substantiating transactions to avoid income tax additions. Case-Laws Income Tax Sat, 28 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24197