2003 (2) TMI 6 - MADHYA PRADESH HIGH COURT - Income Tax

Head Note / Extract:
Cash credits - Whether Tribunal was justified in accepting the cash credit only on the identity of the creditor without verification of capacity/credit worthiness of the creditors? - Assessee has explained satisfactorily the cash credits in the books of account of the firm and discharged the burden. The Department has not brought out material or evidence to rebut the same – No substantial question of law is involved in this appeal – Revenue’s appeal is dismissed.