The Tribunal held that the assessee has discharged the burden by establishing identity and creditworthiness of the lender, hence addition as cash credits is held to be not valid. (AY.2008-09)
Debjyoti Dutta v. ITO (2020)77 ITR 17 (SN) (Cuttack)(Trib.)
S. 68 : Cash credits-Identity and creditworthiness is established– Addition is held to be not justified.