RAJESH JALAN,DHANBAD vs. DCIT/ACIT, CIRCLE-1, DHANBAD

The appeal of the assessee is allowed in full

Bench: SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI RATNESH NANDAN SAHAY (Accountant Member)

256 ITR 360 (SC)] has held that the onus of the assessee stands discharged once the identity of the creditor and the genuineness of the transaction through banking channels are proved. If at all any doubt remains about the source of funds in the hands of the creditor, the proper course would be to examine the same in the hands