https://www.taxtmi.com/caselaws?id=467296 The note addresses treatment of unexplained credit entries under the deeming provision for credited sums, focusing on the evidentiary standard required to treat a cash-credit as a genuine loan. It explains that corroborative bank records, confirmations and a remand report that trace deposits and repayments can satisfy the assessee's explanation and the requisite inquiry into "source of the source." Where the assessing officer or appellate authority makes no adverse finding on repayment or source and documentary evidence corroborates transactions, the legal effect is that the addition under the deeming provision should not be sustained. en-us Fri, 21 Feb 2025 00:00:00 +0530 Fri, 13 Mar 2026 18:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467296 The note addresses treatment of unexplained credit entries under the deeming provision for credited sums, focusing on the evidentiary standard required to treat a cash-credit as a genuine loan. It explains that corroborative bank records, confirmations and a remand report that trace deposits and repayments can satisfy the assessee's explanation and the requisite inquiry into "source of the source." Where the assessing officer or appellate authority makes no adverse finding on repayment or source and documentary evidence corroborates transactions, the legal effect is that the addition under the deeming provision should not be sustained. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467296