https://www.taxtmi.com/caselaws?id=789851 Section 68 addition for an unsecured loan was not sustainable where the assessee produced primary evidence of identity, creditworthiness and genuineness, supported by a banking trail and repayment record. General search findings and third-party allegations that the lender was a shell entity were insufficient without specific incriminating material or a direct nexus to the assessee. Once the assessee discharged the initial burden, the onus shifted to the Assessing Officer to rebut the evidence with cogent material, which was not done. The deletion of the addition was therefore upheld in favour of the assessee. en-us Mon, 13 Apr 2026 00:00:00 +0530 Wed, 15 Apr 2026 09:05:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789851 Section 68 addition for an unsecured loan was not sustainable where the assessee produced primary evidence of identity, creditworthiness and genuineness, supported by a banking trail and repayment record. General search findings and third-party allegations that the lender was a shell entity were insufficient without specific incriminating material or a direct nexus to the assessee. Once the assessee discharged the initial burden, the onus shifted to the Assessing Officer to rebut the evidence with cogent material, which was not done. The deletion of the addition was therefore upheld in favour of the assessee. Case-Laws Income Tax Mon, 13 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789851