https://www.taxtmi.com/caselaws?id=783002 ITAT Mumbai allowed the assessee's appeal and deleted the additions made u/s 68. It held that the alleged unexplained cash credit arising from unsecured loans did not pertain to AY 2020-21, and therefore could not be taxed in that year. Further, following earlier years where similar additions were deleted for lack of incriminating material in a search u/s 132, the Tribunal found no discrepancy in the loan transactions. The assessee had furnished sufficient documentary evidence establishing the identity and creditworthiness of the lenders and the genuineness of the loans, including repayment, which remained uncontroverted. The AO's mere doubts without supporting material were held insufficient to sustain additions u/s 68. en-us Wed, 03 Dec 2025 00:00:00 +0530 Mon, 08 Dec 2025 08:31:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783002 ITAT Mumbai allowed the assessee's appeal and deleted the additions made u/s 68. It held that the alleged unexplained cash credit arising from unsecured loans did not pertain to AY 2020-21, and therefore could not be taxed in that year. Further, following earlier years where similar additions were deleted for lack of incriminating material in a search u/s 132, the Tribunal found no discrepancy in the loan transactions. The assessee had furnished sufficient documentary evidence establishing the identity and creditworthiness of the lenders and the genuineness of the loans, including repayment, which remained uncontroverted. The AO's mere doubts without supporting material were held insufficient to sustain additions u/s 68. Case-Laws Income Tax Wed, 03 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783002