https://www.taxtmi.com/caselaws?id=770897 AT examined three key tax law issues involving unexplained credits and loan transactions. The tribunal found the assessee failed to prove the creditworthiness and genuineness of loans from companies with bogus addresses. The court set aside the CIT(A)'s order deleting additions under sections 68 and 69C, remanding the matter for fresh consideration. The core holding emphasized that the burden of proving loan authenticity rests entirely with the assessee, and the absence of outstanding credits does not automatically validate the transactions. en-us Wed, 14 May 2025 00:00:00 +0530 Sat, 17 May 2025 08:39:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770897 AT examined three key tax law issues involving unexplained credits and loan transactions. The tribunal found the assessee failed to prove the creditworthiness and genuineness of loans from companies with bogus addresses. The court set aside the CIT(A)'s order deleting additions under sections 68 and 69C, remanding the matter for fresh consideration. The core holding emphasized that the burden of proving loan authenticity rests entirely with the assessee, and the absence of outstanding credits does not automatically validate the transactions. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770897