Assessee cannot be asked to prove source of source under Section 68

ACIT Vs S.P. Singla Construction P. Ltd. (ITAT Delhi) Income Tax Act, 1961, Section 68 Conclusion: In present facts of the case, the Hon’ble Tribunal dismissed the Revenue appeal under Section 6 of the Income Tax Act and held that that assessee discharged its initial onus to prove the identity of the Investors, their creditworthiness and genuineness of the transaction in the matter and assesse cannot be asked to prove source of the source. Facts: The assessee submitted return of income on 28.09.2010 declaring income of Rs.25,74,26,310/- which was processed under section 143(1) of the Income ...