Section 68: Taxpayers Must Prove Creditor Identity, Creditworthiness, and Transaction Genuineness to Avoid Income Tax Additions.
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....Addition u/s. 68 - three ingredients of section 68, i.e., identity of the creditors, creditworthiness thereof and genuineness of the transactions - Simply because the assessee received the amounts through cheques would not prove the transaction as genuine.....


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