https://www.taxtmi.com/caselaws?id=470259 Unsecured loans supported by confirmations, lenders' tax returns and financial statements, bank records, affidavits, ledger accounts and repayment details satisfied the initial burden of proving identity, genuineness and creditworthiness. As lenders substantially responded to notices and no defects, prior cash deposits, broken fund trail, or link to an accommodation-entry arrangement were established, the burden shifted to the Revenue. Repayment through banking channels further supported genuineness. The Revenue's cited precedent was distinguishable because it involved cash credits without repayment. The addition as unexplained cash credits was therefore deleted. en-us Tue, 18 Mar 2025 00:00:00 +0530 Tue, 21 Jul 2026 19:10:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470259 Unsecured loans supported by confirmations, lenders' tax returns and financial statements, bank records, affidavits, ledger accounts and repayment details satisfied the initial burden of proving identity, genuineness and creditworthiness. As lenders substantially responded to notices and no defects, prior cash deposits, broken fund trail, or link to an accommodation-entry arrangement were established, the burden shifted to the Revenue. Repayment through banking channels further supported genuineness. The Revenue's cited precedent was distinguishable because it involved cash credits without repayment. The addition as unexplained cash credits was therefore deleted. Case-Laws Income Tax Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470259