https://www.taxtmi.com/caselaws?id=471345 Unexplained cash-credit additions require the assessee to establish the creditor's identity and creditworthiness and the genuineness of the transaction. Credits unsupported by a response to statutory notice, confirmation, income-tax return or bank statement remain liable to addition because the initial evidential burden is not discharged. Conversely, confirmations, creditor responses, income-tax returns and bank statements can establish the required elements and shift the onus to the Assessing Officer. Relief is justified where the Assessing Officer produces no material rebutting that evidence, and where disputed entries are shown to be casting errors, attributable to another group concern, or absent from the assessee's books. en-us Fri, 04 Apr 2025 00:00:00 +0530 Mon, 31 Aug 2026 18:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471345 Unexplained cash-credit additions require the assessee to establish the creditor's identity and creditworthiness and the genuineness of the transaction. Credits unsupported by a response to statutory notice, confirmation, income-tax return or bank statement remain liable to addition because the initial evidential burden is not discharged. Conversely, confirmations, creditor responses, income-tax returns and bank statements can establish the required elements and shift the onus to the Assessing Officer. Relief is justified where the Assessing Officer produces no material rebutting that evidence, and where disputed entries are shown to be casting errors, attributable to another group concern, or absent from the assessee's books. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471345