https://www.taxtmi.com/caselaws?id=56019 The ITAT Ahmedabad-B allowed the assessee's appeal regarding unexplained cash credits under Section 68. The tribunal held that when an assessee provides creditor names, addresses, and GIR numbers, the burden shifts to the Revenue to establish lack of creditworthiness. Six creditors appeared before the AO and confirmed advancing loans via account payee cheques. The tribunal ruled that non-compliance with summons alone cannot justify adverse inference against the assessee. Since the AO accepted interest deductions and TDS was deducted on interest payments, the addition was unjustified and directed to be deleted. en-us Fri, 15 Sep 2000 00:00:00 +0530 Tue, 03 Jun 2025 15:21:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56019 The ITAT Ahmedabad-B allowed the assessee's appeal regarding unexplained cash credits under Section 68. The tribunal held that when an assessee provides creditor names, addresses, and GIR numbers, the burden shifts to the Revenue to establish lack of creditworthiness. Six creditors appeared before the AO and confirmed advancing loans via account payee cheques. The tribunal ruled that non-compliance with summons alone cannot justify adverse inference against the assessee. Since the AO accepted interest deductions and TDS was deducted on interest payments, the addition was unjustified and directed to be deleted. Case-Laws Income Tax Fri, 15 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56019