Once initial burden in terms of section 68 of IT Act, 1961 is discharged by assessee, onus shifts to Department to prove that amount credited in books of accounts represents undisclosed income of assessee

DECIDED BY: HIGH COURT OF DELHI, IN THE CASE OF: CIT Vs. Kishori Lal Construction Ltd., APPEAL NO: ITA 783/2007, DECIDED ON December 23, 2009 JUDGMENT A.K. SIKRI, J. 1. By the impugned order, learned Income Tax Appellate Tribunal (ITAT) has affirmed the order of the Commissioner of Income Tax(Appeals) [CIT(A)] deleting the addition of Rs.49,41,030/- made by the Assessing Officer under Section 68 of the Income Tax Act (hereinafter referred to as Act?) on account of unexplained cash credit. This amount was received by the assessee from one M/s Yadav and Company and according to the Tribunal the...