https://www.taxtmi.com/caselaws?id=783000 ITAT Mumbai allowed the assessee's appeal and deleted the additions made u/s 68 towards unsecured loan and u/s 69C towards interest thereon received from a corporate lender. The Tribunal held that the assessee had discharged its onus under s.68 by furnishing identity, creditworthiness and genuineness documents, and the AO failed to conduct any further verification or disprove the material. Since the loan had been repaid and interest duly paid, both remaining uncontroverted by the Revenue, the deeming provisions of s.69 were inapplicable. The DR's reliance on contrary HC precedent was distinguished on facts, particularly the absence of repayment in that case. en-us Tue, 02 Dec 2025 00:00:00 +0530 Mon, 08 Dec 2025 08:31:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783000 ITAT Mumbai allowed the assessee's appeal and deleted the additions made u/s 68 towards unsecured loan and u/s 69C towards interest thereon received from a corporate lender. The Tribunal held that the assessee had discharged its onus under s.68 by furnishing identity, creditworthiness and genuineness documents, and the AO failed to conduct any further verification or disprove the material. Since the loan had been repaid and interest duly paid, both remaining uncontroverted by the Revenue, the deeming provisions of s.69 were inapplicable. The DR's reliance on contrary HC precedent was distinguished on facts, particularly the absence of repayment in that case. Case-Laws Income Tax Tue, 02 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783000