https://www.taxtmi.com/caselaws?id=792834 Unsecured loan credits could not be added under section 68 where the assessee produced PAN details, income-tax records, confirmations and bank statements establishing creditor identity and the banking trail of funds. The record also showed that a substantial part of the disputed sum comprised opening balances or conversion entries from earlier years, which could not be treated as fresh credits of the relevant previous year. Once the assessee discharged the initial burden, the Revenue was required to make further enquiry and bring adverse material, which it failed to do. The addition was therefore deleted in full. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792834 Unsecured loan credits could not be added under section 68 where the assessee produced PAN details, income-tax records, confirmations and bank statements establishing creditor identity and the banking trail of funds. The record also showed that a substantial part of the disputed sum comprised opening balances or conversion entries from earlier years, which could not be treated as fresh credits of the relevant previous year. Once the assessee discharged the initial burden, the Revenue was required to make further enquiry and bring adverse material, which it failed to do. The addition was therefore deleted in full. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792834