https://www.taxtmi.com/caselaws?id=775496 The ITAT Chandigarh upheld additions under section 68, ruling that the assessee failed to prove the identity, creditworthiness, and genuineness of alleged donors and lenders. The assessee did not provide adequate documentation for corpus donations, resulting in these being treated as anonymous under section 115BBC and taxed accordingly. Similarly, unsecured loans lacked sufficient evidence such as PAN details, bank statements, or financial records to establish their legitimacy. The tribunal agreed with the CIT(A) that the onus to explain these credits was not discharged, and the additions were sustained. The decision was against the assessee. en-us Tue, 03 Jun 2025 00:00:00 +0530 Sat, 26 Jul 2025 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775496 The ITAT Chandigarh upheld additions under section 68, ruling that the assessee failed to prove the identity, creditworthiness, and genuineness of alleged donors and lenders. The assessee did not provide adequate documentation for corpus donations, resulting in these being treated as anonymous under section 115BBC and taxed accordingly. Similarly, unsecured loans lacked sufficient evidence such as PAN details, bank statements, or financial records to establish their legitimacy. The tribunal agreed with the CIT(A) that the onus to explain these credits was not discharged, and the additions were sustained. The decision was against the assessee. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775496