1984 (7) TMI 230

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..... CIT has found that the assessee had discharged the burden of proving the identity of the creditors and their credit worthiness since the assessee had filed the passports of the creditors who are all non-residents and whose income had also been assessed in India. He found that the advances were given by them to the assessee by cheques on non-resident (external) account and the assessee had also pai .....

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..... is any question of suspicion about the sources of the creditors there can be no expression of it in this case as long as admittedly the creditors have been independently assessed. In the circumstances, we have no hesitation in confirming the order of the CIT(A). The appeal is dismissed. 3. The assessee has filed a memorandum of Cross Objection only to support the order of the CIT(A). Hence it is .....

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