https://www.taxtmi.com/caselaws?id=794539 Where an unsecured loan is supported by creditor confirmation, bank statements and related evidence showing receipt through banking channels, the identity, genuineness and creditworthiness requirements under section 68 are treated as discharged. Additional material examined by the appellate authority under section 250(4) was treated as permissible support rather than a fresh case, so the Rule 46A objection did not succeed. The text also states that interest from a systematic money-lending activity integrally connected with a business venture is assessable as business income, and the absence of a separate licence does not alter that character. On that basis, brought forward business losses may be set off against such income. en-us Wed, 01 Jul 2026 00:00:00 +0530 Tue, 07 Jul 2026 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794539 Where an unsecured loan is supported by creditor confirmation, bank statements and related evidence showing receipt through banking channels, the identity, genuineness and creditworthiness requirements under section 68 are treated as discharged. Additional material examined by the appellate authority under section 250(4) was treated as permissible support rather than a fresh case, so the Rule 46A objection did not succeed. The text also states that interest from a systematic money-lending activity integrally connected with a business venture is assessable as business income, and the absence of a separate licence does not alter that character. On that basis, brought forward business losses may be set off against such income. Case-Laws Income Tax Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794539