https://www.taxtmi.com/caselaws?id=347982 Addition under s.68 for unexplained unsecured loans was held unsustainable because the assessee discharged the initial onus by producing creditor identity and financial particulars, including tax returns, balance sheets and bank records, and some creditors personally confirmed advancing the loans; absent any further inquiry or contrary material by the AO, the loans were correctly treated as genuine. The HC upheld deletion of the addition and decided against the revenue. Addition on transportation charges was also rejected since documentary evidence showed actual execution of work, TDS compliance, confirmations with PAN, and payments by account-payee cheques; mere non-attendance or non-service of notices could not justify disallowance, and the AO could have verified with the RTO. The HC upheld deletion and found no substantial question of law. en-us Mon, 04 Sep 2017 00:00:00 +0530 Sat, 10 Jan 2026 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347982 Addition under s.68 for unexplained unsecured loans was held unsustainable because the assessee discharged the initial onus by producing creditor identity and financial particulars, including tax returns, balance sheets and bank records, and some creditors personally confirmed advancing the loans; absent any further inquiry or contrary material by the AO, the loans were correctly treated as genuine. The HC upheld deletion of the addition and decided against the revenue. Addition on transportation charges was also rejected since documentary evidence showed actual execution of work, TDS compliance, confirmations with PAN, and payments by account-payee cheques; mere non-attendance or non-service of notices could not justify disallowance, and the AO could have verified with the RTO. The HC upheld deletion and found no substantial question of law. Case-Laws Income Tax Mon, 04 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347982