https://www.taxtmi.com/caselaws?id=462920 The HC upheld the Tribunal's finding that the unexplained credits from 19 creditors represented legitimate booking amounts received through a joint venture and not income. The assessee did not conduct business or earn income during the relevant year, and the burden of proof was discharged. Following precedent, the court held that the assessee was not required to prove the source of credits beyond the initial explanation. The Tribunal's decision in favor of the assessee was affirmed, and no interference was warranted. en-us Fri, 10 Jun 2016 00:00:00 +0530 Thu, 24 Jul 2025 18:56:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462920 The HC upheld the Tribunal's finding that the unexplained credits from 19 creditors represented legitimate booking amounts received through a joint venture and not income. The assessee did not conduct business or earn income during the relevant year, and the burden of proof was discharged. Following precedent, the court held that the assessee was not required to prove the source of credits beyond the initial explanation. The Tribunal's decision in favor of the assessee was affirmed, and no interference was warranted. Case-Laws Income Tax Fri, 10 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462920