https://www.taxtmi.com/caselaws?id=752716 HC dismissed the Revenue's appeal, upholding the Tribunal's deletion of additions made as unexplained cash credits u/s 68. It affirmed the Tribunal's factual findings that the alleged loans were interest-bearing, interest was actually paid, and the identity and existence of the creditor-companies were not disputed by the AO. Credits were routed through normal banking channels and supported by loan confirmations, certificates of incorporation, PAN, ITRs, balance sheets, profit and loss accounts and bank statements. Common directorship between creditor and assessee entities was held insufficient to infer bogus or shell entities absent supporting material. The HC held no substantial question of law arose. en-us Thu, 25 Apr 2024 00:00:00 +0530 Tue, 16 Dec 2025 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752716 HC dismissed the Revenue's appeal, upholding the Tribunal's deletion of additions made as unexplained cash credits u/s 68. It affirmed the Tribunal's factual findings that the alleged loans were interest-bearing, interest was actually paid, and the identity and existence of the creditor-companies were not disputed by the AO. Credits were routed through normal banking channels and supported by loan confirmations, certificates of incorporation, PAN, ITRs, balance sheets, profit and loss accounts and bank statements. Common directorship between creditor and assessee entities was held insufficient to infer bogus or shell entities absent supporting material. The HC held no substantial question of law arose. Case-Laws Income Tax Thu, 25 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752716