https://www.taxtmi.com/caselaws?id=471942 Section 68 requires the assessee to establish the identity, creditworthiness and genuineness of credited receipts. Recorded sales supported by ledgers, invoices, inventory and sales records, tax-paid invoices, and banking-channel payments establish their nature and source; unverified third-party statements or unserved purchaser notices alone do not displace such evidence. Share application receipts supported by investor confirmations, PAN details, corporate records, tax returns and audited financial statements similarly establish the investors and the genuineness of investments. An adverse inference based on a later inspection, without further verification or rebuttal of the documentary record, is insufficient for an unexplained-cash-credit addition. en-us Tue, 15 Apr 2025 00:00:00 +0530 Thu, 24 Sep 2026 13:54:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471942 Section 68 requires the assessee to establish the identity, creditworthiness and genuineness of credited receipts. Recorded sales supported by ledgers, invoices, inventory and sales records, tax-paid invoices, and banking-channel payments establish their nature and source; unverified third-party statements or unserved purchaser notices alone do not displace such evidence. Share application receipts supported by investor confirmations, PAN details, corporate records, tax returns and audited financial statements similarly establish the investors and the genuineness of investments. An adverse inference based on a later inspection, without further verification or rebuttal of the documentary record, is insufficient for an unexplained-cash-credit addition. Case-Laws Income Tax Tue, 15 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471942