https://www.taxtmi.com/caselaws?id=789339 Addition under section 68 for unsecured loans was unsustainable where the assessee produced confirmations, returns, bank statements, MCA data, 26AS records and audited financials showing identity, creditworthiness and genuineness of the lenders, and the revenue failed to carry out effective enquiry to rebut that evidence. The loans had moved through banking channels with interest credited and TDS deducted, so the finding that the funds were the assessee's own unaccounted money could not stand. Once the loan addition failed, the related interest disallowance, being based solely on the same premise, also failed and was deleted. en-us Wed, 25 Mar 2026 00:00:00 +0530 Tue, 07 Apr 2026 07:48:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789339 Addition under section 68 for unsecured loans was unsustainable where the assessee produced confirmations, returns, bank statements, MCA data, 26AS records and audited financials showing identity, creditworthiness and genuineness of the lenders, and the revenue failed to carry out effective enquiry to rebut that evidence. The loans had moved through banking channels with interest credited and TDS deducted, so the finding that the funds were the assessee's own unaccounted money could not stand. Once the loan addition failed, the related interest disallowance, being based solely on the same premise, also failed and was deleted. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789339