https://www.taxtmi.com/caselaws?id=791855 Addition as unexplained cash credit under section 68 was deleted because the assessee produced the collaboration agreement, bank trail, financial statements, PAN details, and return filings to show the receipt was a business advance. The amount was later refunded through banking channels, and no independent enquiry established that the funds were unaccounted cash routed back to the assessee. On these facts, the tests of identity, creditworthiness, and genuineness were treated as satisfactorily discharged, and the adverse inference based mainly on an investigation report and a shell-entity allegation was not sustained. en-us Wed, 29 Apr 2026 00:00:00 +0530 Tue, 19 May 2026 08:18:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791855 Addition as unexplained cash credit under section 68 was deleted because the assessee produced the collaboration agreement, bank trail, financial statements, PAN details, and return filings to show the receipt was a business advance. The amount was later refunded through banking channels, and no independent enquiry established that the funds were unaccounted cash routed back to the assessee. On these facts, the tests of identity, creditworthiness, and genuineness were treated as satisfactorily discharged, and the adverse inference based mainly on an investigation report and a shell-entity allegation was not sustained. Case-Laws Income Tax Wed, 29 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791855