https://www.taxtmi.com/caselaws?id=27665 The High Court upheld the Tribunal's decision to delete the addition of Rs. 41,500 to the assessee's income, citing that the Department failed to shift the burden of proof back to the assessee by not verifying the creditor's statement or producing the confession. Additionally, the Court affirmed the Tribunal's decision to allow interest on the disputed amount, emphasizing the Department's failure to verify the creditor's capacity or the transaction's genuineness. The judgment favored the assessee, holding the actions of the Tribunal as legal and proper, ruling against the Revenue. en-us Thu, 22 Sep 1983 00:00:00 +0530 Mon, 15 Feb 2010 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27665 The High Court upheld the Tribunal's decision to delete the addition of Rs. 41,500 to the assessee's income, citing that the Department failed to shift the burden of proof back to the assessee by not verifying the creditor's statement or producing the confession. Additionally, the Court affirmed the Tribunal's decision to allow interest on the disputed amount, emphasizing the Department's failure to verify the creditor's capacity or the transaction's genuineness. The judgment favored the assessee, holding the actions of the Tribunal as legal and proper, ruling against the Revenue. Case-Laws Income Tax Thu, 22 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27665