https://www.taxtmi.com/caselaws?id=779966 ITAT AHMEDABAD set aside the addition under s. 68 treating the transaction as unaccounted income, concluding the AO failed to discharge the burden of proving the loan bogus. The assessee produced ledger entries, bank statements and TDS challans and showed repayment of the unsecured loan with interest. Reliance by revenue on statements and investigation findings was held insufficient. The AO's addition could not be sustained and the assessee's appeal was allowed. en-us Thu, 25 Sep 2025 00:00:00 +0530 Thu, 16 Oct 2025 08:30:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779966 ITAT AHMEDABAD set aside the addition under s. 68 treating the transaction as unaccounted income, concluding the AO failed to discharge the burden of proving the loan bogus. The assessee produced ledger entries, bank statements and TDS challans and showed repayment of the unsecured loan with interest. Reliance by revenue on statements and investigation findings was held insufficient. The AO's addition could not be sustained and the assessee's appeal was allowed. Case-Laws Income Tax Thu, 25 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779966