https://www.taxtmi.com/caselaws?id=295914 The Revenue's appeal challenging the deletion of additions u/s 68 for unexplained credits and disallowance of interest on unsecured loans was dismissed. The Tribunal upheld the deletion, emphasizing the assessee's burden to explain the source of credits, not the creditors' funds. The addition on account of low household withdrawals was sustained as the Tribunal found the estimation reasonable. The order pronounced on 15.10.2010 dismissed both the Revenue's appeal and the assessee's Cross Objection. en-us Fri, 15 Oct 2010 00:00:00 +0530 Thu, 24 Jun 2021 16:29:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295914 The Revenue's appeal challenging the deletion of additions u/s 68 for unexplained credits and disallowance of interest on unsecured loans was dismissed. The Tribunal upheld the deletion, emphasizing the assessee's burden to explain the source of credits, not the creditors' funds. The addition on account of low household withdrawals was sustained as the Tribunal found the estimation reasonable. The order pronounced on 15.10.2010 dismissed both the Revenue's appeal and the assessee's Cross Objection. Case-Laws Income Tax Fri, 15 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295914