{"id":64658,"date":"2026-10-01T18:39:01","date_gmt":"2026-10-01T13:09:01","guid":{"rendered":"https:\/\/itatonline.org\/digest\/liquors-india-ltd-v-acit-2026-349-ctr-113-183-taxmann-com-357-telanganahc\/"},"modified":"2026-10-01T18:39:01","modified_gmt":"2026-10-01T13:09:01","slug":"liquors-india-ltd-v-acit-2026-349-ctr-113-183-taxmann-com-357-telanganahc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/liquors-india-ltd-v-acit-2026-349-ctr-113-183-taxmann-com-357-telanganahc\/","title":{"rendered":"Liquors India Ltd. v. ACIT (2026) 349 CTR 113 \/ 183 taxmann.com 357 (Telangana)(HC)."},"content":{"rendered":"<p style=\"margin: 0in;margin-bottom: .0001pt;text-align: justify;line-height: 150%\"><span lang=\"EN-IN\" style=\"font-family: &#039;Verdana&#039;,sans-serif\">The assessee failed to satisfactorily explain cash credits aggregating to Rs. 79,74,515. Though the Commissioner (Appeals) had conducted enquiries and obtained confirmations from creditors and banks, the findings and material collected were not properly analysed or recorded in the appellate order. The Court held that an appellate authority is required not merely to conduct enquiries but to analyse the evidence and record reasoned conclusions. In the absence of satisfactory evidence establishing genuineness and creditworthiness of the credits, the Tribunal was justified in restoring the entire addition. <strong><span style=\"font-family: &#039;Verdana&#039;,sans-serif\">(AY. 1998-99)<\/span><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68: Cash credits-Share application money-Failing to establish genuineness and creditworthiness-Addition sustained. [S. 260A] <\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64658","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gOS","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64658","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=64658"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64658\/revisions"}],"predecessor-version":[{"id":64659,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64658\/revisions\/64659"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}