https://www.taxtmi.com/caselaws?id=778409 ITAT, Mumbai allowed the appeal and deleted additions under s.68 relating to two unsecured loans. The tribunal held that one lender, a director of the assessee, was properly identified and had sufficient bank balances and supporting ITRs, ledger and confirmations proving genuineness of the loan. The other lender, a private company, had its identity, genuineness and creditworthiness established by its records and assessment order. AO was directed to delete the s.68 additions and to allow interest claimed on those borrowings. en-us Wed, 10 Sep 2025 00:00:00 +0530 Tue, 16 Sep 2025 09:02:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778409 ITAT, Mumbai allowed the appeal and deleted additions under s.68 relating to two unsecured loans. The tribunal held that one lender, a director of the assessee, was properly identified and had sufficient bank balances and supporting ITRs, ledger and confirmations proving genuineness of the loan. The other lender, a private company, had its identity, genuineness and creditworthiness established by its records and assessment order. AO was directed to delete the s.68 additions and to allow interest claimed on those borrowings. Case-Laws Income Tax Wed, 10 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778409