https://www.taxtmi.com/caselaws?id=469063 Unsecured loan additions under section 68 were held unsustainable because the assessee furnished confirmations, returns, bank statements and audited financials to establish the lenders' identity, creditworthiness and transaction genuineness. The Tribunal accepted that the lenders were active, regularly assessed companies with financial capacity, and the Assessing Officer brought no concrete material to show that the assessee's own unaccounted money had been routed back as loans. In the absence of evidence beyond suspicion or conjecture, and on the facts of the year in question, the assessee was not required to prove the source of source, so the Revenue's challenge failed. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 01 Jun 2026 18:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469063 Unsecured loan additions under section 68 were held unsustainable because the assessee furnished confirmations, returns, bank statements and audited financials to establish the lenders' identity, creditworthiness and transaction genuineness. The Tribunal accepted that the lenders were active, regularly assessed companies with financial capacity, and the Assessing Officer brought no concrete material to show that the assessee's own unaccounted money had been routed back as loans. In the absence of evidence beyond suspicion or conjecture, and on the facts of the year in question, the assessee was not required to prove the source of source, so the Revenue's challenge failed. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469063