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2014 (1) TMI 922 - AT - Income TaxDeletion made u/s 68 of the Act – Unexplained cash credits – Creditworthiness of HUF not proved – Held that:- The CIT(A) set aside the addition without properly analysing the facts of the case – Thus, the order of the CIT(A) set aside – and the matter remitted back to the AO for fresh adjudication - the initial onus is upon the assessee to prove the identify, genuineness and creditworthiness of the creditors and the entire capital introduced by the assessee in this year as well as the differential figure of the loan taken in the earlier years and in the current year are also to be explained by the assessee properly – Decided in favour of Assessee.
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