AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
2017 (4) TMI 1328
X X X X Extracts X X X X
X X X X Extracts X X X X
....thur on behalf of Mr. R.B. Mathur For Respondent(s) : Mr. Mahendra Gargieya Judgment Per Hon'ble Jhaveri,. 1. By way of this appeal, the appellant has challenged the judgment and order of the Tribunal whereby the Tribunal has dismissed the appeal of the assessee as well as department. 2. This Court while admitting the appeal on 30.11.2009 has framed the following substantial que....
X X X X Extracts X X X X
X X X X Extracts X X X X
....tion 68 of the Act, even when the assessee failed to discharge the primary onus casted upon it to prove the identify, genuineness and creditworthiness of the investors?" 3. However, in view of the judgment of the Hon'ble Supreme Court in the case of Commissioner of Income Tax vs. Lovely Exports (P) Ltd., reported in (2008) 299 ITR 268 (SC), wherein it has been held as under: "If the share a....