https://www.taxtmi.com/caselaws?id=441531 The Assessee's appeals against the Commissioner of Income Tax (Appeals) for Assessment Years 2009-10 and 2010-11 were dismissed. In the case of AY 2009-10, the addition of cash credit under section 68 of the IT Act was confirmed due to the Assessee's failure to prove the creditworthiness of the creditor and genuineness of the transaction. Similarly, for AY 2010-11, unexplained cash credit additions were upheld as the Assessee did not provide sufficient details to establish the identity and creditworthiness of the creditors. The importance of providing documentary evidence to avoid such additions was highlighted in the judgment. en-us Tue, 08 Aug 2023 00:00:00 +0530 Thu, 10 Aug 2023 07:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441531 The Assessee's appeals against the Commissioner of Income Tax (Appeals) for Assessment Years 2009-10 and 2010-11 were dismissed. In the case of AY 2009-10, the addition of cash credit under section 68 of the IT Act was confirmed due to the Assessee's failure to prove the creditworthiness of the creditor and genuineness of the transaction. Similarly, for AY 2010-11, unexplained cash credit additions were upheld as the Assessee did not provide sufficient details to establish the identity and creditworthiness of the creditors. The importance of providing documentary evidence to avoid such additions was highlighted in the judgment. Case-Laws Income Tax Tue, 08 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441531