https://www.taxtmi.com/caselaws?id=773026 ITAT Delhi allowed the assessee's appeal against additions under sections 68 and 69A. The tribunal held that cash loans cannot be treated as income of the borrower, as loans are not income per se. Addition under section 68 was deleted due to lack of corroborative evidence regarding alleged cash receipts found during search operations at a third party's premises. The presumption under section 132(4A) applies only to searched persons, not third parties. Additionally, capital introduced by a partner through petty expenditures cannot be considered unexplained money under section 69A when properly recorded in both partner's and firm's books. en-us Fri, 13 Jun 2025 00:00:00 +0530 Tue, 17 Jun 2025 07:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773026 ITAT Delhi allowed the assessee's appeal against additions under sections 68 and 69A. The tribunal held that cash loans cannot be treated as income of the borrower, as loans are not income per se. Addition under section 68 was deleted due to lack of corroborative evidence regarding alleged cash receipts found during search operations at a third party's premises. The presumption under section 132(4A) applies only to searched persons, not third parties. Additionally, capital introduced by a partner through petty expenditures cannot be considered unexplained money under section 69A when properly recorded in both partner's and firm's books. Case-Laws Income Tax Fri, 13 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773026