https://www.taxtmi.com/caselaws?id=460381 ITAT Indore ruled in favor of the assessee regarding addition under Section 68 for unexplained cash credit. The assessee received unsecured loan through account payee cheque, paid interest after TDS deduction, and provided financial statements, ITR, bank statements, and account confirmations. The loan was repaid in April 2010. AO made addition solely because cash creditors were not produced physically. ITAT held that assessee discharged initial onus by providing necessary documents proving identity, genuineness, and creditworthiness of lenders. Mere non-production of cash creditors, when all required documentary evidence is furnished, cannot justify addition under Section 68. en-us Fri, 13 Sep 2019 00:00:00 +0530 Tue, 21 Jan 2025 19:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460381 ITAT Indore ruled in favor of the assessee regarding addition under Section 68 for unexplained cash credit. The assessee received unsecured loan through account payee cheque, paid interest after TDS deduction, and provided financial statements, ITR, bank statements, and account confirmations. The loan was repaid in April 2010. AO made addition solely because cash creditors were not produced physically. ITAT held that assessee discharged initial onus by providing necessary documents proving identity, genuineness, and creditworthiness of lenders. Mere non-production of cash creditors, when all required documentary evidence is furnished, cannot justify addition under Section 68. Case-Laws Income Tax Fri, 13 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460381