https://www.taxtmi.com/caselaws?id=783240 ITAT Delhi dismissed Revenue's appeal and upheld the order of CIT(A) deleting the addition made under s.68 r.w.s. 115BBE in respect of alleged bogus unsecured loans. The Tribunal held that the assessee had discharged the onus under s.68 by establishing the identity of the lender, genuineness of the loan transactions and creditworthiness, even demonstrating the "source of source" though not legally required at the relevant time. The AO's conclusion treating the loans as accommodation entries was found to be based on bare suspicion and not on objective appraisal of material. Finding no cash deposits or contrary evidence, ITAT affirmed that the assessment could not rest on presumptions and sustained the deletion. en-us Wed, 26 Nov 2025 00:00:00 +0530 Wed, 10 Dec 2025 16:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783240 ITAT Delhi dismissed Revenue's appeal and upheld the order of CIT(A) deleting the addition made under s.68 r.w.s. 115BBE in respect of alleged bogus unsecured loans. The Tribunal held that the assessee had discharged the onus under s.68 by establishing the identity of the lender, genuineness of the loan transactions and creditworthiness, even demonstrating the "source of source" though not legally required at the relevant time. The AO's conclusion treating the loans as accommodation entries was found to be based on bare suspicion and not on objective appraisal of material. Finding no cash deposits or contrary evidence, ITAT affirmed that the assessment could not rest on presumptions and sustained the deletion. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783240