https://www.taxtmi.com/caselaws?id=784931 The text addresses taxation of unexplained credits alleged to arise from a Shroff business and the evidentiary burden on the assessee to prove genuineness. It records that the appellate authority restricted addition to 1% of bank credits without verifying statutory licence, prior or subsequent returns, or why regular returns were not filed, concluding that such verification is material to characterisation; consequently the appellate conclusion was set aside and the matter remitted to the assessing officer to afford the assessee a further hearing and adjudicate in accordance with law. The revenue appeal was treated as allowed for statistical purposes. en-us Thu, 08 Jan 2026 00:00:00 +0530 Wed, 14 Jan 2026 08:56:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784931 The text addresses taxation of unexplained credits alleged to arise from a Shroff business and the evidentiary burden on the assessee to prove genuineness. It records that the appellate authority restricted addition to 1% of bank credits without verifying statutory licence, prior or subsequent returns, or why regular returns were not filed, concluding that such verification is material to characterisation; consequently the appellate conclusion was set aside and the matter remitted to the assessing officer to afford the assessee a further hearing and adjudicate in accordance with law. The revenue appeal was treated as allowed for statistical purposes. Case-Laws Income Tax Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784931