TMI Blog1998 (8) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... e of assessment proceedings for the year 1987-88, the Income-tax Officer was not satisfied about the genuineness of the two entries of cash credit in the name of Smt. Probha Bothra and Kumari Sunita Bothra of Rs. 9,000 each. The Income-tax Officer called upon the assessee to produce the creditors, whereupon one Kamal Chand Bothra, elder brother and legal guardian of the two minor girls, appeared and the statement under section 131 of the Act was recorded. The Income-tax Officer, however, was not satisfied and was of the view that the above amounts are not genuine transactions and added the same to the income of the assessee. The Commissioner of Income-tax (Appeals) was also of the opinion that though the identities of the creditors have b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te at the Bar that the two creditors, Smt. Probha Bothra and Kumari Sunita Bothra, are genuine persons. Even the Income-tax Officer was of the opinion that the identity of the creditors has been proved. As regards the creditworthiness of the creditors, it has been stated by the legal guardian that the amount of loan was accumulation on account of customary gifts received by these two young ladies, who lost their father at an early age. Although there is no direct material as regards the age of the two creditors, we find from the statement under section 131 of the Act that out of the two sisters, one was married in the year 1987 itself, which means, that she was of marriageable age. At the relevant time, the younger sister was reading in sch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is no requirement of law that the amount should have been paid by way of cheque. Confirmation letters were duly produced before the Income-tax Officer. Considering the facts and circumstances of the case, in our view, the assessee satisfactorily discharged the primary onus which lay on him to prove the nature and source of the credits. There cannot be any inference under the law that the confirmatory letters given by the assessee are bogus. Learned counsel for the Revenue has relied on a decision of the Calcutta High Court in the case of CIT v. Precision Finance Pvt. Ltd. [1994] 208 ITR 465. The facts of the case were altogether different as in that case the Assessing Officer had conducted enquiries through the inspector ; but in the inst ..... X X X X Extracts X X X X X X X X Extracts X X X X
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