https://www.taxtmi.com/caselaws?id=295915 The High Court dismissed the revenue's appeal against the CIT(A)'s deletion of the addition of unexplained cash credits worth Rs. 14.75 lakhs. The CIT(A) found that the appellant had sufficiently proven the identity and creditworthiness of the loan creditors through loan confirmations, PAN cards, bank statements, and replies to notices u/s. 133(6). As per High Court precedent, when transactions are established through account payee cheques, the AO should verify with the creditor, especially if the creditor is an income tax assessee. Since the appellant provided complete details and followed the High Court's principle, the revenue's appeal was dismissed on 24th Dec., 2013. en-us Tue, 24 Dec 2013 00:00:00 +0530 Fri, 20 Feb 2026 17:20:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295915 The High Court dismissed the revenue's appeal against the CIT(A)'s deletion of the addition of unexplained cash credits worth Rs. 14.75 lakhs. The CIT(A) found that the appellant had sufficiently proven the identity and creditworthiness of the loan creditors through loan confirmations, PAN cards, bank statements, and replies to notices u/s. 133(6). As per High Court precedent, when transactions are established through account payee cheques, the AO should verify with the creditor, especially if the creditor is an income tax assessee. Since the appellant provided complete details and followed the High Court's principle, the revenue's appeal was dismissed on 24th Dec., 2013. Case-Laws Income Tax Tue, 24 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295915