https://www.taxtmi.com/caselaws?id=782877 The ITAT Kolkata allowed the assessee's appeal, deleting the addition made u/s 68 on account of alleged unexplained cash credit in the form of loans from a corporate creditor. The Tribunal noted that the assessee had produced comprehensive documentary evidence regarding the loan transaction before the AO and CIT(A), including confirmations and supporting records, and no specific defect or discrepancy was identified by the revenue authorities. Reliance solely on a search report alleging accommodation entries, without conducting any independent enquiry or rebutting the evidences filed, was held insufficient to justify the addition. Consequently, the order of the CIT(A) was set aside and the addition u/s 68 was directed to be deleted. 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=782877 The ITAT Kolkata allowed the assessee's appeal, deleting the addition made u/s 68 on account of alleged unexplained cash credit in the form of loans from a corporate creditor. The Tribunal noted that the assessee had produced comprehensive documentary evidence regarding the loan transaction before the AO and CIT(A), including confirmations and supporting records, and no specific defect or discrepancy was identified by the revenue authorities. Reliance solely on a search report alleging accommodation entries, without conducting any independent enquiry or rebutting the evidences filed, was held insufficient to justify the addition. Consequently, the order of the CIT(A) was set aside and the addition u/s 68 was directed to be deleted. Case-Laws Income Tax Tue, 02 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782877