Case law - genuiness of loan

[Manoj Kumar]

In case of loan, what should be the proper contents of affidavit or confirmation given by person who has given the loan so that geniunes of the loan can be established. any case law reference will be appreciated

[Guest]

Affidavit or confirmation is just a true statement of facts and circumstances upto the best belief of the deponent. Therefore, you have to find the relevant facts and details relating to loan given. The source of income / money may be established through ITR / source of income whether taxable or not etc. For drafting affidavit or confirmation, it is not necessray that it should not be less that one page or two page.

AI Summary

Genuineness of loan affidavits: state truthful facts and corroborate the source of funds to substantiate the loan. Affidavit or confirmation to establish genuineness of a loan must be a truthful statement of facts to the deponent's best belief, setting out relevant facts and details of the loan. Documentary proof of the source of funds, such as income tax returns or other evidence of source of income, may be relied upon to establish where the money originated. Length is not prescribed; completeness and accuracy of factual particulars and supporting documents are what matters.