Onus on assessee to prove genuineness and establish identity and creditworthiness of lenders. Assessing Officer finding issue of cheque favouring assessee preceded by deposit of cash in lenders’ Bank Accounts. Tribunal held that the-Commissioner (Appeals) erroneously granted relief. Matter restored to Assessing Officer for fresh adjudication. (AY.2012-13)
Neeraj Agrawal v. Dy. CIT (2023)103 ITR 398 / 152 taxmann.com 632 (All)(Trib)
S. 68 : Cash credits-Unexplained sundry creditors-Summons issued to creditors returned-Unsigned copies of ledger accounts-Confirmations signed only by assessee and not by creditors-Matter remanded. [S. 131(1)(d)]