https://www.taxtmi.com/caselaws?id=795416 Unsecured-loan additions cannot be sustained where confirmations, lender particulars, banking records and repayment evidence establish identity, creditworthiness and genuineness; under the pre-amendment provision, borrowers were not required to prove the source of source. Interest paid on such genuine loans is correspondingly allowable. Where partners' capital and other non-interest-bearing funds exceed interest-free advances to group concerns, the advances are presumed to have been made from those funds unless a nexus with borrowed funds is established. The article notes that these principles resulted in deletion of cash-credit additions and both categories of interest disallowance for the 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 evidence establish identity, creditworthiness and genuineness; under the pre-amendment provision, borrowers were not required to prove the source of source. Interest paid on such genuine loans is correspondingly allowable. Where partners' capital and other non-interest-bearing funds exceed interest-free advances to group concerns, the advances are presumed to have been made from those funds unless a nexus with borrowed funds is established. The article notes that these principles resulted in deletion of cash-credit additions and both categories of interest disallowance for the relevant assessment years. Case-Laws Income Tax Wed, 17 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795416