https://www.taxtmi.com/caselaws?id=469007 Unsecured loans could not be added under section 68 where lender identity, creditworthiness and transaction genuineness were supported by PAN records, returns, bank statements and banking channels, and the Rule 46A objection found no adverse rebuttal; the deletion was upheld. Interest on unsecured loans was also allowed because no nexus with non-business use was established and the Revenue failed to displace the business purpose finding; the disallowance was not sustained. Employees' contribution to provident fund, however, was restored as a disallowance because deduction under section 36(1)(va) depends on deposit within the statutory due date under the welfare law, not merely before return filing. en-us Tue, 03 Feb 2026 00:00:00 +0530 Thu, 28 May 2026 18:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469007 Unsecured loans could not be added under section 68 where lender identity, creditworthiness and transaction genuineness were supported by PAN records, returns, bank statements and banking channels, and the Rule 46A objection found no adverse rebuttal; the deletion was upheld. Interest on unsecured loans was also allowed because no nexus with non-business use was established and the Revenue failed to displace the business purpose finding; the disallowance was not sustained. Employees' contribution to provident fund, however, was restored as a disallowance because deduction under section 36(1)(va) depends on deposit within the statutory due date under the welfare law, not merely before return filing. Case-Laws Income Tax Tue, 03 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469007