https://www.taxtmi.com/caselaws?id=799690 Section 68, as applicable to the relevant year, required a borrower to establish a loan creditor's identity, creditworthiness and transaction genuineness, but not the source of the creditor's funds. Corporate records, tax returns, confirmations, banking transactions, interest-tax deductions and documented brokerage supported the unsecured loans; a creditor's non-response to notice, without further Revenue inquiry or evidence of accommodation entries, was insufficient for an adverse addition. A novation agreement discovered after assessment in relation to an insolvent creditor fell within Rule 46A additional-evidence grounds. Interest capitalised to unsold land stock, rather than claimed as a revenue deduction, could not be disallowed. en-us Wed, 16 Sep 2026 00:00:00 +0530 Fri, 25 Sep 2026 08:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799690 Section 68, as applicable to the relevant year, required a borrower to establish a loan creditor's identity, creditworthiness and transaction genuineness, but not the source of the creditor's funds. Corporate records, tax returns, confirmations, banking transactions, interest-tax deductions and documented brokerage supported the unsecured loans; a creditor's non-response to notice, without further Revenue inquiry or evidence of accommodation entries, was insufficient for an adverse addition. A novation agreement discovered after assessment in relation to an insolvent creditor fell within Rule 46A additional-evidence grounds. Interest capitalised to unsold land stock, rather than claimed as a revenue deduction, could not be disallowed. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799690