https://www.taxtmi.com/caselaws?id=63589 Cash credits supported by promissory notes, receipts and bank records were treated as genuine loans because the cheque transactions were verified through scheduled banks and no discrepancy appeared in the bank records. The non-production of the creditors, who were not traceable and whose availability was not within the assessee's control, did not by itself justify rejection of the documentary evidence. Alleged admissions by the creditors as name-lenders were not shown to specifically cover the assessee's transactions, so an addition based only on suspicion and conjecture was not sustainable. The related interest was therefore allowable. en-us Wed, 18 Jun 1975 00:00:00 +0530 Mon, 31 Jan 2011 18:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63589 Cash credits supported by promissory notes, receipts and bank records were treated as genuine loans because the cheque transactions were verified through scheduled banks and no discrepancy appeared in the bank records. The non-production of the creditors, who were not traceable and whose availability was not within the assessee's control, did not by itself justify rejection of the documentary evidence. Alleged admissions by the creditors as name-lenders were not shown to specifically cover the assessee's transactions, so an addition based only on suspicion and conjecture was not sustainable. The related interest was therefore allowable. Case-Laws Income Tax Wed, 18 Jun 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63589