https://www.taxtmi.com/caselaws?id=768470 ITAT Indore allowed the assessee's appeal regarding reopening of assessment under section 147 for unexplained cash credit under section 68. The tribunal found that the assessee discharged its primary onus by proving the identity, creditworthiness, and genuineness of loan transaction with creditor company "J". The creditor was an active company filing regular returns and claiming substantial TDS credits. Revenue authorities failed to controvert documentary evidence beyond general remarks about shell company operations. ITAT had previously deleted similar additions in other cases involving the same creditor. The loan was repaid immediately after the financial year ended, supporting the assessee's position. The addition was deleted. en-us Fri, 30 Aug 2024 00:00:00 +0530 Tue, 01 Apr 2025 16:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768470 ITAT Indore allowed the assessee's appeal regarding reopening of assessment under section 147 for unexplained cash credit under section 68. The tribunal found that the assessee discharged its primary onus by proving the identity, creditworthiness, and genuineness of loan transaction with creditor company "J". The creditor was an active company filing regular returns and claiming substantial TDS credits. Revenue authorities failed to controvert documentary evidence beyond general remarks about shell company operations. ITAT had previously deleted similar additions in other cases involving the same creditor. The loan was repaid immediately after the financial year ended, supporting the assessee's position. The addition was deleted. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768470