https://www.taxtmi.com/caselaws?id=758486 Unsecured loans treated as accommodation entries were held to be unexplained cash credits, so the loan amounts were treated as the assessee's unaccounted money and additions under the tax law were confirmed; the repayment of those loans was considered merely return of accommodation entries and could not be set off, therefore it did not negate the addition. The assessing officer's inclusion of interest paid on those loans as unexplained expenditure was also upheld, with the decision adverse to the assessee. en-us Thu, 05 Sep 2024 00:00:00 +0530 Tue, 03 Feb 2026 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758486 Unsecured loans treated as accommodation entries were held to be unexplained cash credits, so the loan amounts were treated as the assessee's unaccounted money and additions under the tax law were confirmed; the repayment of those loans was considered merely return of accommodation entries and could not be set off, therefore it did not negate the addition. The assessing officer's inclusion of interest paid on those loans as unexplained expenditure was also upheld, with the decision adverse to the assessee. Case-Laws Income Tax Thu, 05 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758486