Dismissing the appeal of the revenue the Court held that, the assesssee discharged to burden by producing bank statements and other details. Ratio laid down in CIT v . P Mohanakala (2007) 291 ITR 278 (SC) is held to be not applicable. (AY. 2008-09)
PCIT v. Skylark Build (2019) 180 DTR 266 (Bom.) (HC)
S. 68 : Cash credits–Advance received-Produced bank statements and other details produced–Discharged the burden-Deletion of addition as cash credits is held to be justified.