https://www.taxtmi.com/caselaws?id=462402 ITAT Chandigarh dismissed Revenue's appeal challenging CIT(A)'s deletion of addition under Section 68 for unexplained cash credits. The assessee successfully established identity, capacity, and genuineness of creditor parties through ITRs, PAN copies, and bank statements. CIT(A) conducted detailed examination including 'source of source' verification. ITAT held that creditors showing losses in ITRs was insufficient to doubt their capacity, confirming all three ingredients under Section 68 were proved beyond doubt, upholding deletion of unsecured loans addition. en-us Fri, 11 Apr 2025 00:00:00 +0530 Thu, 19 Jun 2025 18:54:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462402 ITAT Chandigarh dismissed Revenue's appeal challenging CIT(A)'s deletion of addition under Section 68 for unexplained cash credits. The assessee successfully established identity, capacity, and genuineness of creditor parties through ITRs, PAN copies, and bank statements. CIT(A) conducted detailed examination including 'source of source' verification. ITAT held that creditors showing losses in ITRs was insufficient to doubt their capacity, confirming all three ingredients under Section 68 were proved beyond doubt, upholding deletion of unsecured loans addition. Case-Laws Income Tax Fri, 11 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462402