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2016 (5) TMI 398 - HC - Income TaxAddition u/s 68 - Held that:- The assessee could not produce any evidence regarding source of deposit of Rs. 25 lacs by Shri Ashok Bansal with him. Under Section 68 of the Act, onus was upon the assessee to prove the identity of the creditor, his credit worthiness and genuineness of the transaction in the matter. Since the assessee failed to produce any documentary evidence regarding the source of the deposit of the amount, the addition was held to be justified
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