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2016 (9) TMI 402 - AT - Income TaxAddition u/s 68 - unsecured cash credit - Held that:- It is incumbent on the part of the assessee to prove the identity, genuineness and creditworthiness of the loan taken u/s 68 and non-fulfilling of any of the three conditions, makes a question mark on the impugned transaction. Therefore, we are of the view that assessee has been unable to prove the creditworthiness of both the loan creditors and therefore, addition u/s 68 of the Act for unexplained cash credit of is confirmed and order of ld. CIT(A) is upheld. - Decided against assessee.
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