In the result, the appeal of the revenue in Ground nos
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.475/Asr/2016 Assessment Year: 2013-14
68 of the Income-tax Act, 1961 - Cash credits - Assessment year 2000-01 - Assessee had taken loans from various persons - Assessing Officer made addition treating said loans as undisclosed income of assessee on ground that creditworthiness of creditors could not be established by assessee - On appeal, Tribunal found that assessee had placed on record affidavits of creditors and their I.T.A