https://www.taxtmi.com/caselaws?id=466055 Issue concerns invocation of section 68 for unexplained cash credits where third-party statements during search alleged shell companies provided accommodation entries. Tribunal accepted that assessee produced evidentiary material and AO had issued enquiries to counterparties; mere third-party statement was insufficient to sustain addition, and recorded that loans routed and repaid through banking channels within the year negated benefit to assessee, rendering invocation of section 68 inappropriate; appeal allowed accordingly. en-us Wed, 30 Oct 2024 00:00:00 +0530 Wed, 21 Jan 2026 20:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466055 Issue concerns invocation of section 68 for unexplained cash credits where third-party statements during search alleged shell companies provided accommodation entries. Tribunal accepted that assessee produced evidentiary material and AO had issued enquiries to counterparties; mere third-party statement was insufficient to sustain addition, and recorded that loans routed and repaid through banking channels within the year negated benefit to assessee, rendering invocation of section 68 inappropriate; appeal allowed accordingly. Case-Laws Income Tax Wed, 30 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466055