During the assessment, the AO treated partners’ fresh capital contribution  as unexplained cash credit u/s 68 for lack of creditworthiness proof. On appeal, the CIT (A), after examining partners’ PAN, bank statements, ITRs, and capital accounts, held that identity, creditworthiness, and genuineness were established and deleted the addition, noting that a firm need not prove the source of partners’ income. The ITAT upheld this, observing that the assessee discharged its burden by furnishing evidence, and the AO failed to rebut or file a remand report. Revenue’s appeal was dismissed. ITA No. 3459/Mum/2025 dated 30/07/2025