https://www.taxtmi.com/caselaws?id=466952 A genuine trade liability wrongly recorded as an unsecured loan does not, by itself, justify an addition as unexplained cash credit under section 68 where purchase records, ledger confirmations, bank statements and the supplier's books support the liability and subsequent payment. An ad hoc 25% disallowance of commission and brokerage was also unwarranted where the assessee furnished party details, PAN, confirmations and TDS proof, and no cogent adverse material showed the expenditure to be false or excessive. The Revenue's appeal therefore failed on both issues. en-us Mon, 24 Feb 2025 00:00:00 +0530 Fri, 27 Feb 2026 08:35:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466952 A genuine trade liability wrongly recorded as an unsecured loan does not, by itself, justify an addition as unexplained cash credit under section 68 where purchase records, ledger confirmations, bank statements and the supplier's books support the liability and subsequent payment. An ad hoc 25% disallowance of commission and brokerage was also unwarranted where the assessee furnished party details, PAN, confirmations and TDS proof, and no cogent adverse material showed the expenditure to be false or excessive. The Revenue's appeal therefore failed on both issues. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466952