https://www.taxtmi.com/caselaws?id=431413 Cash credits received from the assessee's wife, father and other small creditors were supported by confirmations, identity particulars and land records, along with an explanation that the funds were advanced for a proposed property purchase and later repaid when the transaction did not proceed. The verification material in remand proceedings also supported the agricultural background and source of funds of the creditors. On that factual record, the addition under section 68 as unexplained cash credits was held unsustainable and was deleted. en-us Wed, 19 Oct 2022 00:00:00 +0530 Tue, 13 Dec 2022 08:25:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431413 Cash credits received from the assessee's wife, father and other small creditors were supported by confirmations, identity particulars and land records, along with an explanation that the funds were advanced for a proposed property purchase and later repaid when the transaction did not proceed. The verification material in remand proceedings also supported the agricultural background and source of funds of the creditors. On that factual record, the addition under section 68 as unexplained cash credits was held unsustainable and was deleted. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431413