https://www.taxtmi.com/caselaws?id=470166 Unsecured loans supported by corporate, tax, audited financial, ledger and banking records may not be treated as unexplained cash credits where the borrower establishes the lenders' identity, financial capacity and the genuineness of the transactions. Accounting for interest with tax deducted at source and subsequent repayment further support the authenticity of the credits; credit entries should not be viewed in isolation from corresponding later debit entries. Material concerning entities other than the actual lenders or the borrower's transactions does not justify an adverse inference. On these stated facts, the assessee discharged its onus under Section 68, so the loans and consequential interest and loan-arrangement commission disallowances could not be sustained. en-us Fri, 25 Jul 2025 00:00:00 +0530 Fri, 17 Jul 2026 21:38:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470166 Unsecured loans supported by corporate, tax, audited financial, ledger and banking records may not be treated as unexplained cash credits where the borrower establishes the lenders' identity, financial capacity and the genuineness of the transactions. Accounting for interest with tax deducted at source and subsequent repayment further support the authenticity of the credits; credit entries should not be viewed in isolation from corresponding later debit entries. Material concerning entities other than the actual lenders or the borrower's transactions does not justify an adverse inference. On these stated facts, the assessee discharged its onus under Section 68, so the loans and consequential interest and loan-arrangement commission disallowances could not be sustained. Case-Laws Income Tax Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470166