1979 (9) TMI 95

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..... ommon order for the sake of convenience. 2. The substance of the grievance of the assessee is that additions have been made in the assessments on the ground that the assessee has not explained in a satisfactory manner the source of certain cash deposits in accounts of certain persons appearing in its books of account. On this finding one of the additions is of an amount equal to the cash credit .....

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..... he had assessee has not discharged the burden cast upon it of explaining the source of amount. The identity of the creditor has been clearly proved and he has supported the case of the assessee. We hold that the assessee has explained the source of the above mentioned two cash credits. We direct that the above mentioned addition and also consequential additions of interest adjusted on the loans .....

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