https://www.taxtmi.com/caselaws?id=779285 ITAT reversed additions u/s 68, holding the unexplained cash credits were substantiated: creditors responded to s.133(6) notices, bank statements showed receipt and subsequent repayment in the next year, and the assessee discharged the initial onus of proving identity, creditworthiness and genuineness. Relying on binding precedent, the tribunal found no material to sustain additions once repayments and documentary evidence were produced, and therefore confirmed additions u/s 68 were deleted. en-us Mon, 20 Jan 2025 00:00:00 +0530 Fri, 03 Oct 2025 08:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779285 ITAT reversed additions u/s 68, holding the unexplained cash credits were substantiated: creditors responded to s.133(6) notices, bank statements showed receipt and subsequent repayment in the next year, and the assessee discharged the initial onus of proving identity, creditworthiness and genuineness. Relying on binding precedent, the tribunal found no material to sustain additions once repayments and documentary evidence were produced, and therefore confirmed additions u/s 68 were deleted. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779285