https://www.taxtmi.com/caselaws?id=771608 Delhi HC upheld ITAT's decision deleting addition under Section 68 regarding unsecured loans of Rs. 10.96 crores from two entities. The assessee explained that funds originated from group company AMPPL which generated unaccounted cash through inflated purchases and channeled it as loans through intermediary companies. HC ruled that once group company disclosed the source and availed settlement benefits under Chapter XIXA, the amount cannot be considered unexplained income. Section 68 requires satisfactory explanation of nature and source, which was provided through group company's disclosure. en-us Tue, 13 May 2025 00:00:00 +0530 Wed, 28 May 2025 08:26:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771608 Delhi HC upheld ITAT's decision deleting addition under Section 68 regarding unsecured loans of Rs. 10.96 crores from two entities. The assessee explained that funds originated from group company AMPPL which generated unaccounted cash through inflated purchases and channeled it as loans through intermediary companies. HC ruled that once group company disclosed the source and availed settlement benefits under Chapter XIXA, the amount cannot be considered unexplained income. Section 68 requires satisfactory explanation of nature and source, which was provided through group company's disclosure. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771608