https://www.taxtmi.com/caselaws?id=782740 ITAT (Mumbai) partly allowed the assessee's appeal by setting aside the addition u/s 68 and remanding the matter to the AO for fresh verification. The Tribunal noted that the impugned loan transaction was not properly recorded in the audited accounts and came to light only after search information regarding the lender, found to be a paper entity. While the lender's identity stood established, the assessee failed to substantiate creditworthiness and genuineness, including terms of the loan, TDS on interest, and mode of repayment. AO was directed to re-examine these aspects after granting due opportunity. en-us Tue, 11 Nov 2025 00:00:00 +0530 Wed, 03 Dec 2025 08:57:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782740 ITAT (Mumbai) partly allowed the assessee's appeal by setting aside the addition u/s 68 and remanding the matter to the AO for fresh verification. The Tribunal noted that the impugned loan transaction was not properly recorded in the audited accounts and came to light only after search information regarding the lender, found to be a paper entity. While the lender's identity stood established, the assessee failed to substantiate creditworthiness and genuineness, including terms of the loan, TDS on interest, and mode of repayment. AO was directed to re-examine these aspects after granting due opportunity. Case-Laws Income Tax Tue, 11 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782740