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2012 (7) TMI 71 - AT - Income TaxUnexplained cash credit – creditworthiness – Held that:- Assessee has furnished the relevant documents to discharge his primary onus of explaining the nature and source of credit entries - name and address of the creditor - confirmation of loan from the said creditor - address of the creditor - assessment particulars of the creditor - copy of legal notice served by the above loan creditor on the appellant, as the assessee failed to repay the loan - Since the disputed loan transaction had been through the account payee cheques and the address and PAN of creditor were before the AO, the question of identity of the creditor becomes irrelevant - action of the ld. AO was not justified and on the other hand, the ld. CIT(A) rightly held that the assessee has discharged his burden of proof regarding identity and creditworthiness of the creditor and genuineness of the transactions
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