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2010 (8) TMI 38 - DELHI HIGH COURTUnexplaind cash credit – creditworthiness – advancing of loans by the Directors / shareholders – Held that: - there is no rule of law that any person withdrawing cash from his own a/c about 1 or 2 months back cannot keep the same with them at their residence. The statement of one of the directors was recorded wherein he has stated on oath the purpose for which it was withdrawn and since that purpose could not materialize, the same was again deposited in bank and given to the assessee as loan. – Additions made by the AO sustained by the CIT was correctly deleted by the Tribunal
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