https://www.taxtmi.com/caselaws?id=765419 Documentary evidence establishing the lender's identity, creditworthiness and the genuineness of a banking-channel loan discharges the taxpayer's initial burden for an unsecured-loan credit. In the absence of contrary material from the Revenue, an addition for unexplained credit is unsustainable. Similarly, lease documentation, bank records of rent payments, Form 16 and corroborative material substantiate entitlement to house rent allowance exemption where eligibility is otherwise undisputed. A disallowance cannot be sustained by disregarding such contemporaneous evidence, particularly where actual rent payment under the lease arrangement is established. en-us Wed, 29 Jan 2025 00:00:00 +0530 Fri, 31 Jan 2025 07:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765419 Documentary evidence establishing the lender's identity, creditworthiness and the genuineness of a banking-channel loan discharges the taxpayer's initial burden for an unsecured-loan credit. In the absence of contrary material from the Revenue, an addition for unexplained credit is unsustainable. Similarly, lease documentation, bank records of rent payments, Form 16 and corroborative material substantiate entitlement to house rent allowance exemption where eligibility is otherwise undisputed. A disallowance cannot be sustained by disregarding such contemporaneous evidence, particularly where actual rent payment under the lease arrangement is established. Case-Laws Income Tax Wed, 29 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765419