https://www.taxtmi.com/caselaws?id=771886 Delhi HC ruled in favor of assessee regarding addition under Section 68 for unexplained credit. Court held that requirement to explain source of funds for unsecured loans was introduced by Finance Act 2022, not applicable to AY 2015-16. Assessee successfully discharged burden by proving identity, capacity and genuineness of transaction. Director's unsecured loan was properly documented through banking channels with confirmation. Addition under Section 68 deemed unsustainable as assessee provided sufficient material supporting explanation of credit entries. en-us Wed, 28 May 2025 00:00:00 +0530 Thu, 09 Jul 2026 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771886 Delhi HC ruled in favor of assessee regarding addition under Section 68 for unexplained credit. Court held that requirement to explain source of funds for unsecured loans was introduced by Finance Act 2022, not applicable to AY 2015-16. Assessee successfully discharged burden by proving identity, capacity and genuineness of transaction. Director's unsecured loan was properly documented through banking channels with confirmation. Addition under Section 68 deemed unsustainable as assessee provided sufficient material supporting explanation of credit entries. Case-Laws Income Tax Wed, 28 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771886