https://www.taxtmi.com/caselaws?id=463221 The ITAT Jaipur held that unsecured loans received by the assessee through account payee cheques, along with repayment and confirmations, established the identity, genuineness, and creditworthiness of the transactions, leading to deletion of the addition under section 68. The tribunal relied on precedents affirming that repayment and interest paid via account payee cheques substantiate genuineness. The assessee's admission alone was insufficient without corroborative evidence to uphold the addition. Regarding delayed payment of ESI and PF, the assessee withdrew the ground following SC (LB) ruling in Checkmate Services Pvt. Ltd., resulting in dismissal of that claim. en-us Thu, 03 Oct 2024 00:00:00 +0530 Fri, 15 Aug 2025 21:55:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463221 The ITAT Jaipur held that unsecured loans received by the assessee through account payee cheques, along with repayment and confirmations, established the identity, genuineness, and creditworthiness of the transactions, leading to deletion of the addition under section 68. The tribunal relied on precedents affirming that repayment and interest paid via account payee cheques substantiate genuineness. The assessee's admission alone was insufficient without corroborative evidence to uphold the addition. Regarding delayed payment of ESI and PF, the assessee withdrew the ground following SC (LB) ruling in Checkmate Services Pvt. Ltd., resulting in dismissal of that claim. Case-Laws Income Tax Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463221