https://www.taxtmi.com/caselaws?id=753753 Where an assessee substantiates unsecured loan credits with confirmations, returns, scrutiny assessments, audited financial statements, tax audit reports and bank records, the identity, creditworthiness and genuineness of the lenders stand proved. An addition under section 68 cannot be sustained merely because the lenders reported low income or because the department seeks a source-of-source enquiry for the relevant year. The documentary trail showing routing through banking channels and disclosure in the lenders' own records was sufficient, so the addition was deleted. en-us Thu, 06 Jun 2024 00:00:00 +0530 Mon, 02 Mar 2026 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753753 Where an assessee substantiates unsecured loan credits with confirmations, returns, scrutiny assessments, audited financial statements, tax audit reports and bank records, the identity, creditworthiness and genuineness of the lenders stand proved. An addition under section 68 cannot be sustained merely because the lenders reported low income or because the department seeks a source-of-source enquiry for the relevant year. The documentary trail showing routing through banking channels and disclosure in the lenders' own records was sufficient, so the addition was deleted. Case-Laws Income Tax Thu, 06 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753753