https://www.taxtmi.com/caselaws?id=247692 The Commissioner of Income Tax (Appeals) deleted the additions made by the Assessing Officer under section 68 of the IT Act for unsecured loans received by the appellant. The department's appeal was rejected as the appellant successfully demonstrated the genuineness and creditworthiness of the parties involved through proper documentation, including confirmations, PANs, ITRs, and bank statements. The court found that the appellant had discharged the burden of proof required for such transactions, leading to the deletion of the additions based on suspicion by the AO. en-us Fri, 09 May 2014 00:00:00 +0530 Tue, 20 May 2014 08:21:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247692 The Commissioner of Income Tax (Appeals) deleted the additions made by the Assessing Officer under section 68 of the IT Act for unsecured loans received by the appellant. The department's appeal was rejected as the appellant successfully demonstrated the genuineness and creditworthiness of the parties involved through proper documentation, including confirmations, PANs, ITRs, and bank statements. The court found that the appellant had discharged the burden of proof required for such transactions, leading to the deletion of the additions based on suspicion by the AO. Case-Laws Income Tax Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247692