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2013 (10) TMI 85 - HC - Income TaxAddition with regard to sundry credit - Burden to prove the identity of creditors, their creditworthiness and genuineness of transactions was on the assessee - Held that:- In the instant case, only a few creditors have not sent confirmation but fact remains that they have received the payment through cheque, which were duly reflected in the books of accounts of the assessee. The A.O. has not verified the same in the books of the recipients and made the addition by adopting short cut method - The identity creditworthiness and genuineness have been proved beyond doubt as observed by the First Appellate Authority and confirmed by the Tribunal – Decided against the Revenue.
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