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2009 (6) TMI 60 - HC - Income TaxCash Credit – Held that - that merely because the loan transaction was sought to be relied upon by the assessee, as that transaction was given by cheque, by itself will not prove the genuineness of the transaction - that the assessee must prove not only the identity of the creditor but their creditworthiness and genuineness of the transaction has also to be proved beyond any reasonable doubt by the assessee - has not made any legal ground calling for interference of this court and the order passed by the Tribunal in respect of both the claims raised cannot be said to be perverse or illegal – appeal dismissed.
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