https://www.taxtmi.com/caselaws?id=465907 Addition under unexplained cash credit provisions was contested where assessee accepted unsecured loans. The assessee produced identity details, account confirmations, bank statements and income tax acknowledgements to establish identity, genuineness and creditworthiness, and demonstrated availability of funds with lenders; these evidences undermined the assessing officers doubts and the unexplained cash credit addition was disallowed. Subsequent repayment of loans with tax deducted at source further corroborated the genuineness. The challenge to proportional interest addition was considered in the context of the primary loan disallowance and resolved accordingly. en-us Wed, 20 Dec 2023 00:00:00 +0530 Wed, 14 Jan 2026 20:51:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465907 Addition under unexplained cash credit provisions was contested where assessee accepted unsecured loans. The assessee produced identity details, account confirmations, bank statements and income tax acknowledgements to establish identity, genuineness and creditworthiness, and demonstrated availability of funds with lenders; these evidences undermined the assessing officers doubts and the unexplained cash credit addition was disallowed. Subsequent repayment of loans with tax deducted at source further corroborated the genuineness. The challenge to proportional interest addition was considered in the context of the primary loan disallowance and resolved accordingly. Case-Laws Income Tax Wed, 20 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465907