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2019 (2) TMI 120 - HC - Income TaxAddition u/s 68 - non discharge the burden/condition as given in section 68 - Held that:- The appellant could not discharge the burden/condition as given in section 68. It was noticed by the Tribunal as well as the lower authorities that the assessee has failed to prove the credit worthiness of the creditor and the genuineness of the transaction. It was also noticed that the assessee has neither before the CIT (Appeals), nor before the Tribunal could discharge the burden/condition as prescribed under section 68 with regard to credit worthiness and genuineness of the transactions in the matter. In our opinion, the Tribunal had taken all the relevant facts into consideration and the conclusions arrived at by the Tribunal were not perverse or unreasonable in confirming the order of Commissioner of Income Tax (Appeals). In view of the aforesaid facts, the case, in hand, is squarely covered by the judgment & order rendered by this Court in the case of Ram Baboo Agrawal ( 2017 (11) TMI 740 - ALLAHABAD HIGH COURT). - Decided in favour of the Revenue and against the Assessee
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