https://www.taxtmi.com/caselaws?id=790329 Under section 68, unsecured loan credits cannot be treated as unexplained cash credits where the assessee furnishes primary evidence of the lenders' identity, the genuineness of the banking transactions, and prima facie creditworthiness. Here, confirmations, income returns, bank statements, ledger accounts, assessment material in the creditors' cases, and evidence of account payee routing and substantial repayment supported the loans. In the absence of any cash trail, incriminating material, or cogent evidence linking the credits to the assessee's own unaccounted income, suspicion based only on the creditors' balance-sheet position and borrowings was insufficient. The consequential interest disallowance also failed. en-us Tue, 21 Apr 2026 00:00:00 +0530 Thu, 23 Apr 2026 09:45:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790329 Under section 68, unsecured loan credits cannot be treated as unexplained cash credits where the assessee furnishes primary evidence of the lenders' identity, the genuineness of the banking transactions, and prima facie creditworthiness. Here, confirmations, income returns, bank statements, ledger accounts, assessment material in the creditors' cases, and evidence of account payee routing and substantial repayment supported the loans. In the absence of any cash trail, incriminating material, or cogent evidence linking the credits to the assessee's own unaccounted income, suspicion based only on the creditors' balance-sheet position and borrowings was insufficient. The consequential interest disallowance also failed. Case-Laws Income Tax Tue, 21 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790329