https://www.taxtmi.com/caselaws?id=470160 Unexplained cash credit arising from an unsecured loan was addressed by noting that the loan pre-dated the lender's subsequent identification as a shell company. The assessee produced lender confirmations and directors' affidavits and showed later repayment through banking channels, with no specific defect identified in that material. However, the lender's later shell-company identification and inconsistencies in the evidence supported retention of an estimated taxable element. The full addition was considered unsustainable, and the taxable income was restricted to 15% of the loan amount. en-us Mon, 17 Mar 2025 00:00:00 +0530 Fri, 17 Jul 2026 21:38:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470160 Unexplained cash credit arising from an unsecured loan was addressed by noting that the loan pre-dated the lender's subsequent identification as a shell company. The assessee produced lender confirmations and directors' affidavits and showed later repayment through banking channels, with no specific defect identified in that material. However, the lender's later shell-company identification and inconsistencies in the evidence supported retention of an estimated taxable element. The full addition was considered unsustainable, and the taxable income was restricted to 15% of the loan amount. Case-Laws Income Tax Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470160