Onus of proving prove identity of creditor, his creditworthiness and genuineness of transactions is on Assessee

RELEVANT PARAGRAPH 5. We have heard both the parties and gone through the material available on record. We have also perused the revenue records indicating the land-holding and crops grown Thereon. As per the Jamabandi the lands are owned jointly by these persons. Some of the lands are owned jointly by seven persons and some by four and certain lands individually. However, as per the statement recorded by the Assessing Officer and affidavits filed, it is seen that Shri Krishan Kumar son of Shri Sant Lai owns 25 acres of agricultural land. Shri Inderjeet Rajpura also owns 25 acres of agricultur...