https://www.taxtmi.com/caselaws?id=776718 ITAT Jaipur (AT) held that unexplained cash credits claimed as unsecured loans under s.68 were satisfactorily explained by the assessee through ledger accounts, audited financials, bank statements, ITR acknowledgements and sale bills, meeting the tests of identity, capacity and genuineness. A retracted statement obtained during survey/search could not alone sustain additions; reliance on such retraction was rejected following HC precedent. Revenue's appeal was dismissed. en-us Thu, 07 Aug 2025 00:00:00 +0530 Mon, 18 Aug 2025 08:39:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776718 ITAT Jaipur (AT) held that unexplained cash credits claimed as unsecured loans under s.68 were satisfactorily explained by the assessee through ledger accounts, audited financials, bank statements, ITR acknowledgements and sale bills, meeting the tests of identity, capacity and genuineness. A retracted statement obtained during survey/search could not alone sustain additions; reliance on such retraction was rejected following HC precedent. Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 07 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776718