[aaykarbhavan] No need to prove source of lender’s fund if their identity & creditworthiness proved

 

No need to prove source of lender's fund if their identity & creditworthiness proved

June 7, 2014[2014] 45 taxmann.com 203 (Rajasthan)

IT: Where identity, capacity and genuineness of transaction stands proved by assessee, he was not required to prove source of amount which had been deposited by creditors/lenders

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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