https://www.taxtmi.com/caselaws?id=314372 A cheque-based cash credit supported by bank movement of funds and an acceptable explanation of the creditor's source was treated as sufficient to discharge the assessee's burden under section 68, so the cash credit and related interest were deleted. Loose-sheet material was not fastened to the assessee where it appeared to concern the son's separate business and assessment, requiring enquiry in that assessment instead. An addition for silver stock discrepancy was deleted because the same opening stock had already been taxed, and a notional addition for low household withdrawals was also rejected where family withdrawals were adequate. The Revenue's objections were rejected to the extent these deletions and the limited remand were maintained. en-us Tue, 10 Jun 1997 00:00:00 +0530 Wed, 19 Jun 2024 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314372 A cheque-based cash credit supported by bank movement of funds and an acceptable explanation of the creditor's source was treated as sufficient to discharge the assessee's burden under section 68, so the cash credit and related interest were deleted. Loose-sheet material was not fastened to the assessee where it appeared to concern the son's separate business and assessment, requiring enquiry in that assessment instead. An addition for silver stock discrepancy was deleted because the same opening stock had already been taxed, and a notional addition for low household withdrawals was also rejected where family withdrawals were adequate. The Revenue's objections were rejected to the extent these deletions and the limited remand were maintained. Case-Laws Income Tax Tue, 10 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314372