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2008 (2) TMI 276 - HC - Income TaxCash credits – explanation – assessee is required to disclose the source of the depositor for establishing the “capacity” of the creditor – mere explanation regarding the source of the receipt or credits in the account books of the assessee that he received the money from his wife and minor son who were not earning is not “satisfactory” – burden not discharged by assessee to prove genuineness of transaction – assessee’s appeal dismissed
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