https://www.taxtmi.com/caselaws?id=777500 An unsecured loan from a group concern was upheld as unexplained cash credit under section 68 because the assessee failed to prove the genuineness of the transaction or the source of funds, particularly in view of cash deposits in the lender's account before cheque issuance. Disallowance under section 14A was deleted because no exempt income was earned during the relevant year, leaving no statutory basis for the addition. Interest disallowance under section 36(1)(iii) was sustained since interest-free advances to sister concerns were not shown to be supported by commercial expediency or business necessity. en-us Wed, 27 Aug 2025 00:00:00 +0530 Sat, 30 Aug 2025 08:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777500 An unsecured loan from a group concern was upheld as unexplained cash credit under section 68 because the assessee failed to prove the genuineness of the transaction or the source of funds, particularly in view of cash deposits in the lender's account before cheque issuance. Disallowance under section 14A was deleted because no exempt income was earned during the relevant year, leaving no statutory basis for the addition. Interest disallowance under section 36(1)(iii) was sustained since interest-free advances to sister concerns were not shown to be supported by commercial expediency or business necessity. Case-Laws Income Tax Wed, 27 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777500