https://www.taxtmi.com/caselaws?id=782882 ITAT Raipur allowed the assessee's appeal and deleted the addition made u/s 68 in respect of a loan received from an individual lender. The Tribunal held that the AO had not established failure by the assessee to prove identity, creditworthiness and genuineness of the loan transaction, nor conducted any proper enquiry. Mere cash deposits in the lender's bank account prior to advancing the loan, and non-furnishing of balance sheet/capital account by the lender, could not, in isolation, justify addition in the assessee's hands. ITAT also noted absence of any material showing corresponding addition in the lender's assessment, rendering the s.68 addition arbitrary and legally unsustainable. en-us Tue, 02 Dec 2025 00:00:00 +0530 Fri, 05 Dec 2025 08:12:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782882 ITAT Raipur allowed the assessee's appeal and deleted the addition made u/s 68 in respect of a loan received from an individual lender. The Tribunal held that the AO had not established failure by the assessee to prove identity, creditworthiness and genuineness of the loan transaction, nor conducted any proper enquiry. Mere cash deposits in the lender's bank account prior to advancing the loan, and non-furnishing of balance sheet/capital account by the lender, could not, in isolation, justify addition in the assessee's hands. ITAT also noted absence of any material showing corresponding addition in the lender's assessment, rendering the s.68 addition arbitrary and legally unsustainable. Case-Laws Income Tax Tue, 02 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782882