https://www.taxtmi.com/caselaws?id=471836 Unsecured-loan additions and consequential interest disallowances require verification where a joint overdraft account does not clearly identify individual loan transactions. Bank statements, ledgers and supporting records require examination to establish the nature and source of sums and each creditor's identity, creditworthiness and genuineness. The account's purpose and transaction trail require clarification before a reasoned appellate determination, with a remand report where necessary. en-us Mon, 23 Dec 2024 00:00:00 +0530 Sat, 19 Sep 2026 14:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471836 Unsecured-loan additions and consequential interest disallowances require verification where a joint overdraft account does not clearly identify individual loan transactions. Bank statements, ledgers and supporting records require examination to establish the nature and source of sums and each creditor's identity, creditworthiness and genuineness. The account's purpose and transaction trail require clarification before a reasoned appellate determination, with a remand report where necessary. Case-Laws Income Tax Mon, 23 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471836