https://www.taxtmi.com/caselaws?id=466718 An addition as unexplained cash credit under section 68 cannot rest on an drawn only from an interest claim under section 24(b) without adequate enquiry into when the loan was raised and its source. Where the assessee asserts that the borrowing relates to earlier years and seeks to file supporting documents and confirmations as additional evidence, the matter should be verified on the record and the assessee must be given a fair opportunity under Rule 46A. Denial of that opportunity is inconsistent with natural justice, and the issue requires fresh consideration after due hearing and production of relevant evidence. en-us Tue, 25 Feb 2025 00:00:00 +0530 Tue, 17 Feb 2026 19:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466718 An addition as unexplained cash credit under section 68 cannot rest on an drawn only from an interest claim under section 24(b) without adequate enquiry into when the loan was raised and its source. Where the assessee asserts that the borrowing relates to earlier years and seeks to file supporting documents and confirmations as additional evidence, the matter should be verified on the record and the assessee must be given a fair opportunity under Rule 46A. Denial of that opportunity is inconsistent with natural justice, and the issue requires fresh consideration after due hearing and production of relevant evidence. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466718