{"id":41939,"date":"2024-05-04T11:22:11","date_gmt":"2024-05-04T05:52:11","guid":{"rendered":"https:\/\/itatonline.org\/digest\/sasi-enterprises-v-dy-cit-2023105-itr-29-snchennai-trib\/"},"modified":"2024-05-04T11:22:11","modified_gmt":"2024-05-04T05:52:11","slug":"sasi-enterprises-v-dy-cit-2023105-itr-29-snchennai-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/sasi-enterprises-v-dy-cit-2023105-itr-29-snchennai-trib\/","title":{"rendered":"Sasi Enterprises v. Dy. CIT (2023)105 ITR 29 (SN)(Chennai) (Trib)"},"content":{"rendered":"<p>The Tribunal allowing the appeal of the Assessee, held that, the assessee had discharged its primary onus of fulfilling the three important ingredients of s. 68. The lender, in a sworn statement, admitted the fact of granting of loan, burden is discharged. In the absence of such a fact-based finding to prove that the assessee\u2019s own money was routed through banking channels in the garb of loan, the addition is not sustained in law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits-Burden of Proof discharged by producing Lenders sworn statement admitting granting of loan, turnover alone could not be considered source of loan, credits could not be taxed. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-41939","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-aUr","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=41939"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41939\/revisions"}],"predecessor-version":[{"id":41940,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41939\/revisions\/41940"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=41939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=41939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=41939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}