https://www.taxtmi.com/caselaws?id=470161 Sufficient interest-free funds covering interest-free advances negate a presumption that interest-bearing borrowings were diverted, supporting deletion of a notional interest disallowance. For unsecured loans, permanent account numbers, tax returns, bank statements, confirmations and creditor responses establish identity, creditworthiness and transaction genuineness, discharging the assessee's evidentiary burden for cash credits. Audited accounts and expenditure details cannot support a sweeping purchase or staff-welfare disallowance where no specific unreliable voucher or accounting defect is identified. The notes describe deletion of the related interest, cash-credit and expenditure additions. en-us Tue, 18 Mar 2025 00:00:00 +0530 Fri, 17 Jul 2026 21:38:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470161 Sufficient interest-free funds covering interest-free advances negate a presumption that interest-bearing borrowings were diverted, supporting deletion of a notional interest disallowance. For unsecured loans, permanent account numbers, tax returns, bank statements, confirmations and creditor responses establish identity, creditworthiness and transaction genuineness, discharging the assessee's evidentiary burden for cash credits. Audited accounts and expenditure details cannot support a sweeping purchase or staff-welfare disallowance where no specific unreliable voucher or accounting defect is identified. The notes describe deletion of the related interest, cash-credit and expenditure additions. Case-Laws Income Tax Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470161