https://www.taxtmi.com/caselaws?id=795416 Unsecured-loan additions cannot be sustained where confirmations, lender particulars, banking records and repayment details establish identity, creditworthiness and genuineness. For the relevant pre-amendment years, unsecured-loan recipients were not required to prove the source of source; interest paid on genuine loans was consequently allowable. Where partners' capital and other non-interest-bearing funds exceeded interest-free advances to group concerns, the advances were presumed to have been made from those funds absent a demonstrated nexus with borrowings. The cash-credit additions and both categories of interest disallowance were deleted for all relevant assessment years. en-us Wed, 17 Jun 2026 00:00:00 +0530 Wed, 22 Jul 2026 08:48:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795416 Unsecured-loan additions cannot be sustained where confirmations, lender particulars, banking records and repayment details establish identity, creditworthiness and genuineness. For the relevant pre-amendment years, unsecured-loan recipients were not required to prove the source of source; interest paid on genuine loans was consequently allowable. Where partners' capital and other non-interest-bearing funds exceeded interest-free advances to group concerns, the advances were presumed to have been made from those funds absent a demonstrated nexus with borrowings. The cash-credit additions and both categories of interest disallowance were deleted for all relevant assessment years. Case-Laws Income Tax Wed, 17 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795416