https://www.taxtmi.com/caselaws?id=469062 Section 68 additions relating to unsecured loans were found unsustainable where the assessee produced confirmations, income-tax returns, bank statements, PAN details and audited financial statements to establish the lenders' identity, genuineness of transactions and creditworthiness. Loan receipts were routed through banking channels, with no evidence of cash deposits or the assessee's own unaccounted money being rotated back as loans. The adverse inference rested on suspicion rather than record-based material, and for one lender the deletion was also supported by findings in settlement proceedings. The assessee was not required to prove the source of the source in the relevant year. 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=469062 Section 68 additions relating to unsecured loans were found unsustainable where the assessee produced confirmations, income-tax returns, bank statements, PAN details and audited financial statements to establish the lenders' identity, genuineness of transactions and creditworthiness. Loan receipts were routed through banking channels, with no evidence of cash deposits or the assessee's own unaccounted money being rotated back as loans. The adverse inference rested on suspicion rather than record-based material, and for one lender the deletion was also supported by findings in settlement proceedings. The assessee was not required to prove the source of the source in the relevant year. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469062