https://www.taxtmi.com/caselaws?id=468637 Section 68 requires the assessee to prove the creditor's or partner's identity, creditworthiness and the genuineness of the transaction; once that primary burden is discharged, the addition cannot be sustained merely on suspicion or for failure to prove the source of the source. In the case of cash credits from depositors, confirmations, bank statements, PAN details and return acknowledgments, together with cheque-based transfers, were accepted as sufficient and the addition was deleted. For partners' capital introductions, the partners' identity, tax records and confirmations were produced, so the firm's addition was also deleted, leaving any further inquiry to the partners' hands. en-us Fri, 11 Sep 2009 00:00:00 +0530 Fri, 15 May 2026 12:23:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468637 Section 68 requires the assessee to prove the creditor's or partner's identity, creditworthiness and the genuineness of the transaction; once that primary burden is discharged, the addition cannot be sustained merely on suspicion or for failure to prove the source of the source. In the case of cash credits from depositors, confirmations, bank statements, PAN details and return acknowledgments, together with cheque-based transfers, were accepted as sufficient and the addition was deleted. For partners' capital introductions, the partners' identity, tax records and confirmations were produced, so the firm's addition was also deleted, leaving any further inquiry to the partners' hands. Case-Laws Income Tax Fri, 11 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468637