https://www.taxtmi.com/caselaws?id=794804 Additions under section 68 relating to unsecured loans from the assessee's wife and from Umkal Healthcare Pvt. Ltd. were deleted because the assessee produced confirmation letters, banking records, balance sheet material and other supporting documents. The wife's loan was reflected in the statement of affairs under sundry creditors, while the corporate lender's advance and repayment moved through disclosed banking channels. Both lenders were assessed to tax and had sufficient disclosed income and bank balances. As the statutory requirements of identity, creditworthiness and genuineness were satisfied, the deletion of the additions was upheld and the Revenue's challenge failed. en-us Wed, 08 Jul 2026 00:00:00 +0530 Sat, 11 Jul 2026 08:46:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794804 Additions under section 68 relating to unsecured loans from the assessee's wife and from Umkal Healthcare Pvt. Ltd. were deleted because the assessee produced confirmation letters, banking records, balance sheet material and other supporting documents. The wife's loan was reflected in the statement of affairs under sundry creditors, while the corporate lender's advance and repayment moved through disclosed banking channels. Both lenders were assessed to tax and had sufficient disclosed income and bank balances. As the statutory requirements of identity, creditworthiness and genuineness were satisfied, the deletion of the additions was upheld and the Revenue's challenge failed. Case-Laws Income Tax Wed, 08 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794804