https://www.taxtmi.com/caselaws?id=790401 Unsecured loans supported by PAN, confirmations, ITR acknowledgements, audited financial statements, incorporation documents, board resolutions, bank statements and foreclosure letters discharged the assessee's burden under section 68. The additional evidence admitted in appellate proceedings was sent to the Assessing Officer under Rule 46A, but the remand report did not rebut the documents on merits. As the loans were received and repaid through banking channels within a short span, and the lender companies were shown to be existing NBFCs with sufficient net worth and lending capacity, the identity, genuineness and creditworthiness of the lenders stood proved. The addition under section 68 was therefore held unsustainable. en-us Fri, 17 Apr 2026 00:00:00 +0530 Fri, 24 Apr 2026 08:52:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790401 Unsecured loans supported by PAN, confirmations, ITR acknowledgements, audited financial statements, incorporation documents, board resolutions, bank statements and foreclosure letters discharged the assessee's burden under section 68. The additional evidence admitted in appellate proceedings was sent to the Assessing Officer under Rule 46A, but the remand report did not rebut the documents on merits. As the loans were received and repaid through banking channels within a short span, and the lender companies were shown to be existing NBFCs with sufficient net worth and lending capacity, the identity, genuineness and creditworthiness of the lenders stood proved. The addition under section 68 was therefore held unsustainable. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790401