https://www.taxtmi.com/caselaws?id=437184 An assessee discharges the burden under sections 68 and 69A where it produces bank statements, confirmations, affidavits, agreements, withdrawal abstracts, and reconciliation of deposits and redeposits showing the source and movement of funds. Here, the Tribunal accepted evidence of prior disclosure under the Income Disclosure Scheme, agricultural income, and matching withdrawals against cash deposits, and found no contrary material to reject the explanations. On the unexplained cash credit issue, the payer's confirmation and examination of its managing partner supported genuineness and creditworthiness, so the addition was deleted. The same factual explanation also sustained deletion of agricultural income and later-year cash deposit additions. en-us Wed, 26 Apr 2023 00:00:00 +0530 Mon, 01 May 2023 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437184 An assessee discharges the burden under sections 68 and 69A where it produces bank statements, confirmations, affidavits, agreements, withdrawal abstracts, and reconciliation of deposits and redeposits showing the source and movement of funds. Here, the Tribunal accepted evidence of prior disclosure under the Income Disclosure Scheme, agricultural income, and matching withdrawals against cash deposits, and found no contrary material to reject the explanations. On the unexplained cash credit issue, the payer's confirmation and examination of its managing partner supported genuineness and creditworthiness, so the addition was deleted. The same factual explanation also sustained deletion of agricultural income and later-year cash deposit additions. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437184