https://www.taxtmi.com/caselaws?id=769210 ITAT Jaipur held that addition under Section 68 for unsecured loans was unjustified where assessee established creditors' identity through PAN numbers and confirmations, genuineness via bank statements and ITRs, and capacity through ITRs. The tribunal noted creditors confirmed advancing money from their own bank accounts during examination. Since AO found money came from creditors' respective bank accounts and failed to prove it actually belonged to assessee, the addition based on mere suspicion was deleted. Decision favored assessee. en-us Mon, 09 Sep 2024 00:00:00 +0530 Tue, 22 Apr 2025 08:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769210 ITAT Jaipur held that addition under Section 68 for unsecured loans was unjustified where assessee established creditors' identity through PAN numbers and confirmations, genuineness via bank statements and ITRs, and capacity through ITRs. The tribunal noted creditors confirmed advancing money from their own bank accounts during examination. Since AO found money came from creditors' respective bank accounts and failed to prove it actually belonged to assessee, the addition based on mere suspicion was deleted. Decision favored assessee. Case-Laws Income Tax Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769210