https://www.taxtmi.com/caselaws?id=34623 HC dismissed the appeal and upheld the Tribunal's order disallowing additions under section 68 (cash credit) and denying the interest deduction. The court held the assessee failed to prove identity, creditworthiness and genuineness of the loan transaction beyond reasonable doubt; payment by cheque alone was insufficient. The Tribunal's reliance on the lender's contradictory and withdrawn statement warranted rejection of the claim, and the CIT(A)'s allowance (including a miscalculated amount relating to a different assessment year) was rightly reversed. No legal infirmity merited interference. en-us Tue, 16 Jun 2009 00:00:00 +0530 Mon, 10 Nov 2025 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34623 HC dismissed the appeal and upheld the Tribunal's order disallowing additions under section 68 (cash credit) and denying the interest deduction. The court held the assessee failed to prove identity, creditworthiness and genuineness of the loan transaction beyond reasonable doubt; payment by cheque alone was insufficient. The Tribunal's reliance on the lender's contradictory and withdrawn statement warranted rejection of the claim, and the CIT(A)'s allowance (including a miscalculated amount relating to a different assessment year) was rightly reversed. No legal infirmity merited interference. Case-Laws Income Tax Tue, 16 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34623