Dismissing the appeal of the revenue the Court held that , assessee had discharged its onus of establishing identity, genuineness and creditworthiness of both investors as well as lenders. Deletion of addition is held to be justified .(AY. 2009-10)
PCIT v. Hi-Tech Residency (P.) Ltd. (2018) 257 Taxman 390 (Delhi)(HC) Editorial: SLP of revenue is dismissed , PCIT v. Hi-Tech Residency (P.) Ltd. (2018) 257 Taxman 335 (SC)
S. 68 : Cash credits -Shares -Unsecured loans – Assessee had discharged its onus of establishing identity, genuineness and creditworthiness of both investors as well as lenders- Deletion of addition is held to be justified .