S.68 Assessee only required to provide evidence of identity & transactions

Brief of the case:

The Jaipur bench of ITAT in the above cited case held that the assessee is only expected to produce the documentary evidences regarding the transaction and identity of the persons from whom it has accepted the deposits. Assessee is not required to offer an explanation regarding the source of the income in the hands of lender.

Facts of the case:

• The assessee is engaged in the

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