https://www.taxtmi.com/caselaws?id=467046 Assessee met the Section 68 requirements by proving identity, creditworthiness and genuineness of alleged lenders through ledger entries, loan confirmations, bank statements, audited financials and lenders' assessment records; repayments were effected through banking channels and lenders' assessments did not adverse-find sources. The Tribunal accepted the appellate authority's reasoned findings that the Assessing Officer's additions were based on presumption and surmise without tangible contrary material, and deleted the unexplained cash-credit additions, dismissing the Revenue's appeal and the assessee's cross-objection. en-us Mon, 23 Dec 2024 00:00:00 +0530 Tue, 03 Mar 2026 17:28:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467046 Assessee met the Section 68 requirements by proving identity, creditworthiness and genuineness of alleged lenders through ledger entries, loan confirmations, bank statements, audited financials and lenders' assessment records; repayments were effected through banking channels and lenders' assessments did not adverse-find sources. The Tribunal accepted the appellate authority's reasoned findings that the Assessing Officer's additions were based on presumption and surmise without tangible contrary material, and deleted the unexplained cash-credit additions, dismissing the Revenue's appeal and the assessee's cross-objection. Case-Laws Income Tax Mon, 23 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467046