https://www.taxtmi.com/caselaws?id=31162 The appeal under Section 260-A of the Income Tax Act, 1961 was dismissed by the High Court. The court upheld the Income Tax Appellate Tribunal's decision to sustain an unexplained cash credit addition of Rs. 2,50,000 for the Assessment Year 1993-94. Despite establishing the identity of creditors, the appellant failed to prove their credit worthiness and the genuineness of transactions. The court emphasized the burden on the assessee to establish these aspects, leading to the dismissal of the appeal as no substantial legal question was found. en-us Thu, 27 Mar 2008 00:00:00 +0530 Mon, 20 Oct 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31162 The appeal under Section 260-A of the Income Tax Act, 1961 was dismissed by the High Court. The court upheld the Income Tax Appellate Tribunal's decision to sustain an unexplained cash credit addition of Rs. 2,50,000 for the Assessment Year 1993-94. Despite establishing the identity of creditors, the appellant failed to prove their credit worthiness and the genuineness of transactions. The court emphasized the burden on the assessee to establish these aspects, leading to the dismissal of the appeal as no substantial legal question was found. Case-Laws Income Tax Thu, 27 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31162