https://www.taxtmi.com/caselaws?id=776564 ITAT DELHI upheld the CIT(A)'s deletion of additions under section 68 relating to unsecured loans received by the assessee. The tribunal found that the assessee adequately proved the identity, creditworthiness, and genuineness of the loan creditor and transactions through documentary evidence and banking channels. The addition was limited to the amount credited during the year, excluding the opening balance. The AO's reliance on suspicion without contrary evidence was rejected. Consequently, the disallowance of interest paid on the loan was also deleted. The revenue's appeal was dismissed in entirety. en-us Wed, 30 Jul 2025 00:00:00 +0530 Tue, 12 Aug 2025 18:08:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776564 ITAT DELHI upheld the CIT(A)'s deletion of additions under section 68 relating to unsecured loans received by the assessee. The tribunal found that the assessee adequately proved the identity, creditworthiness, and genuineness of the loan creditor and transactions through documentary evidence and banking channels. The addition was limited to the amount credited during the year, excluding the opening balance. The AO's reliance on suspicion without contrary evidence was rejected. Consequently, the disallowance of interest paid on the loan was also deleted. The revenue's appeal was dismissed in entirety. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776564