https://www.taxtmi.com/caselaws?id=797693 Section 68 credit addition cannot rest solely on a creditor's comparatively low declared income where the assessee has produced a sale agreement, banking records, ledger account, and the creditor's PAN and address. Such material supports the creditor's identity and the transaction's genuineness; low income alone does not conclusively disprove creditworthiness without further enquiry or contrary material. Failure to undertake requested statutory verification weakens the proposed addition. The later proviso requiring explanation of the creditor's source of funds does not apply to the relevant assessment year, making the addition unsustainable. en-us Wed, 19 Aug 2026 00:00:00 +0530 Wed, 26 Aug 2026 08:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797693 Section 68 credit addition cannot rest solely on a creditor's comparatively low declared income where the assessee has produced a sale agreement, banking records, ledger account, and the creditor's PAN and address. Such material supports the creditor's identity and the transaction's genuineness; low income alone does not conclusively disprove creditworthiness without further enquiry or contrary material. Failure to undertake requested statutory verification weakens the proposed addition. The later proviso requiring explanation of the creditor's source of funds does not apply to the relevant assessment year, making the addition unsustainable. Case-Laws Income Tax Wed, 19 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797693