https://www.taxtmi.com/caselaws?id=467914 An addition for an unsecured loan under section 68 was unsustainable where the assessee produced the lender's confirmation, bank statements, income-tax records, interest and TDS evidence, and repayment documents. The lender's director also confirmed in remand proceedings that the amount was advanced through banking channels and denied any link with the adverse statement relied on by the tax . With repayment of the outstanding balance later shown through bank records, the assessee discharged the burden of proving identity, creditworthiness and genuineness, and no contrary material supported treatment of the credit as an accommodation entry or unexplained cash credit. The addition was deleted. en-us Fri, 14 Feb 2025 00:00:00 +0530 Wed, 08 Apr 2026 20:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467914 An addition for an unsecured loan under section 68 was unsustainable where the assessee produced the lender's confirmation, bank statements, income-tax records, interest and TDS evidence, and repayment documents. The lender's director also confirmed in remand proceedings that the amount was advanced through banking channels and denied any link with the adverse statement relied on by the tax . With repayment of the outstanding balance later shown through bank records, the assessee discharged the burden of proving identity, creditworthiness and genuineness, and no contrary material supported treatment of the credit as an accommodation entry or unexplained cash credit. The addition was deleted. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467914