https://www.taxtmi.com/caselaws?id=788857 Unsecured loan credits may be accepted under section 68 where the assessee substantiates identity, creditworthiness and genuineness through PAN, audited financials, bank records and lender confirmation, and the Revenue offers no contrary evidence. Share premium valuation under section 56(2)(viib) must be tested by the applicable valuation method for the relevant year; a book value method report was accepted where the merchant banker requirement was found inapplicable. Cash deposits were also explained by cash books, bank statements and audited records showing earlier withdrawals and business-linked cash availability, leaving no basis for the addition in the absence of rebuttal evidence. en-us Fri, 27 Mar 2026 00:00:00 +0530 Mon, 30 Mar 2026 08:48:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788857 Unsecured loan credits may be accepted under section 68 where the assessee substantiates identity, creditworthiness and genuineness through PAN, audited financials, bank records and lender confirmation, and the Revenue offers no contrary evidence. Share premium valuation under section 56(2)(viib) must be tested by the applicable valuation method for the relevant year; a book value method report was accepted where the merchant banker requirement was found inapplicable. Cash deposits were also explained by cash books, bank statements and audited records showing earlier withdrawals and business-linked cash availability, leaving no basis for the addition in the absence of rebuttal evidence. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788857