https://www.taxtmi.com/caselaws?id=772922 In this tax case, the Tribunal rejected the tax authority's attempt to treat unsecured loans as unexplained cash credits. The court found the assessee provided sufficient documentary evidence proving the identity, creditworthiness, and genuineness of loans from two parties, including bank statements, fixed deposit receipts, and repayment records. Consequently, the Tribunal deleted the proposed additions under sections 68 and 37(1) of the Income-tax Act, dismissing the Revenue's appeal and upholding the Commissioner of Income-tax (Appeals) order. en-us Tue, 15 Apr 2025 00:00:00 +0530 Mon, 16 Jun 2025 08:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772922 In this tax case, the Tribunal rejected the tax authority's attempt to treat unsecured loans as unexplained cash credits. The court found the assessee provided sufficient documentary evidence proving the identity, creditworthiness, and genuineness of loans from two parties, including bank statements, fixed deposit receipts, and repayment records. Consequently, the Tribunal deleted the proposed additions under sections 68 and 37(1) of the Income-tax Act, dismissing the Revenue's appeal and upholding the Commissioner of Income-tax (Appeals) order. Case-Laws Income Tax Tue, 15 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772922