https://www.taxtmi.com/caselaws?id=779723 ITAT MUMBAI-AT allowed the assessee's appeal and deleted additions under s.68 relating to five unexplained cash credits. The Tribunal held the assessee discharged the primary onus by proving the identity, creditworthiness and genuineness of the creditors' loans: creditors had sufficient funds (borrowing to lend is not barred), transactions were routed through banking channels, and supplied documents were not disproved by the AO. Consequently the s.68 additions were held unjustified and directed to be deleted. en-us Wed, 22 Jan 2025 00:00:00 +0530 Sat, 11 Oct 2025 09:01:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779723 ITAT MUMBAI-AT allowed the assessee's appeal and deleted additions under s.68 relating to five unexplained cash credits. The Tribunal held the assessee discharged the primary onus by proving the identity, creditworthiness and genuineness of the creditors' loans: creditors had sufficient funds (borrowing to lend is not barred), transactions were routed through banking channels, and supplied documents were not disproved by the AO. Consequently the s.68 additions were held unjustified and directed to be deleted. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779723