https://www.taxtmi.com/caselaws?id=791847 In a section 68 dispute over loan credits, primary evidence such as returns, audited financials, bank statements, confirmations and replies to section 133(6) notices was treated as sufficient to establish identity, creditworthiness and genuineness; the Revenue's reliance on postal circumstances and low returned income, without specific defects or rebuttal material, was held insufficient, and the addition for three non-squared up loans was deleted. The remaining addition relating to five squared up loans was remanded for fresh verification because the issue depended on whether the sums were received in the relevant year or formed opening balances, with further opportunity to be given to the assessee. The related interest disallowance was ordered to be recomputed consequentially. en-us Fri, 10 Apr 2026 00:00:00 +0530 Tue, 19 May 2026 08:18:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791847 In a section 68 dispute over loan credits, primary evidence such as returns, audited financials, bank statements, confirmations and replies to section 133(6) notices was treated as sufficient to establish identity, creditworthiness and genuineness; the Revenue's reliance on postal circumstances and low returned income, without specific defects or rebuttal material, was held insufficient, and the addition for three non-squared up loans was deleted. The remaining addition relating to five squared up loans was remanded for fresh verification because the issue depended on whether the sums were received in the relevant year or formed opening balances, with further opportunity to be given to the assessee. The related interest disallowance was ordered to be recomputed consequentially. Case-Laws Income Tax Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791847