https://www.taxtmi.com/caselaws?id=795831 Section 68 requires the assessee to establish the creditor's identity, the genuineness of the transaction and creditworthiness; lender confirmations, financial records, bank evidence, regulatory particulars and repayment evidence may discharge that initial burden. The notes state that, where the Revenue finds no defect in such material and makes no independent lender enquiry, it must produce contrary material before treating credits as unexplained. Donation deductions require verification through the requisite receipt where it is unavailable. Fees for increasing authorised share capital are not allowable outright as revenue expenditure and are subject to statutory amortisation under Section 35D. en-us Fri, 24 Jul 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795831 Section 68 requires the assessee to establish the creditor's identity, the genuineness of the transaction and creditworthiness; lender confirmations, financial records, bank evidence, regulatory particulars and repayment evidence may discharge that initial burden. The notes state that, where the Revenue finds no defect in such material and makes no independent lender enquiry, it must produce contrary material before treating credits as unexplained. Donation deductions require verification through the requisite receipt where it is unavailable. Fees for increasing authorised share capital are not allowable outright as revenue expenditure and are subject to statutory amortisation under Section 35D. Case-Laws Income Tax Fri, 24 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795831