https://www.taxtmi.com/caselaws?id=449835 ITAT Raipur set aside CIT(A)'s order deleting addition under section 68 for unexplained cash credits. The assessee failed to discharge the onus of proving identity, creditworthiness of creditor, and genuineness of transaction by not providing requisite documents including confirmation, ITR, bank statements, financials, and complete address of creditor. Despite CIT(A)'s satisfaction with assessee's evidence, ITAT found the view contrary to facts as essential documents were not submitted to AO or CIT(A). Following precedent in Raja Kaimoor Breweries case, ITAT upheld AO's addition under section 68. Appeal decided against assessee. en-us Mon, 19 Feb 2024 00:00:00 +0530 Wed, 21 Feb 2024 06:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449835 ITAT Raipur set aside CIT(A)'s order deleting addition under section 68 for unexplained cash credits. The assessee failed to discharge the onus of proving identity, creditworthiness of creditor, and genuineness of transaction by not providing requisite documents including confirmation, ITR, bank statements, financials, and complete address of creditor. Despite CIT(A)'s satisfaction with assessee's evidence, ITAT found the view contrary to facts as essential documents were not submitted to AO or CIT(A). Following precedent in Raja Kaimoor Breweries case, ITAT upheld AO's addition under section 68. Appeal decided against assessee. Case-Laws Income Tax Mon, 19 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449835